Comment on The Latest: FTC won't block Amazon's takeover of Whole Foods

The Latest: FTC won't block Amazon's takeover of Whole Foods

NEW YORK (AP) — The Latest on Amazon's deal to acquire Whole Foods (all times local): 4:45 p.m. The Federal Trade Commission says it will not block Amazon's $13.7 billion takeover of Whole Foods Market. The agency said Wednesday that it had investigated to see if the deal would substantially lessen competition or constitute an unfair method of competition, and decided not to pursue the matter further. A union that represents food-industry workers has asked the FTC to scrutinize the proposed acquisition closely, saying that it could hurt competition and lead to job cuts. Regulators tend to block deals when two direct competitors are combining, and Amazon — despite its dominance in the online marketplace — doesn't currently have a big groceries business. Whole Foods shareholders had voted earlier in the day to approve the deal. 10:30 a.m. Whole Foods shareholders voted to bless a union with Amazon that the organic grocery chain's CEO called "love at first sight.Read more on NewsOK.com

 

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