Online retail giant Amazon’s US$13.7bn acquisition of US-based natural and organics retailer Whole Foods Market has been given the all-clear by the country’s trade competition regulator.
The Federal Trade Commission (FTC) ruled yesterday (23 August) that the takeover can go ahead.
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Amazon’s bid for Whole Foods was revealed back in June.
In a statement, Bruce Hoffman, the acting director of the FTC’s Bureau of Competition, said: “The FTC conducted an investigation of this proposed acquisition to determine whether it substantially lessened competition under Section 7 of the Clayton Act, or constituted an unfair method of competition under Section 5 of the FTC Act.
“Based on our investigation we have decided not to pursue this matter further. Of course, the FTC always has the ability to investigate anti-competitive conduct should such action be warranted.”
Whole Foods shareholders have also now approved the merger.
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