A US judge has granted a joint request from Whole Foods Market and the US Federal Trade Commission to cancel hearings on the organic retailer’s US$565m acquisition of smaller rival Wild Oats Markets.
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The FTC and Whole Foods have been embroiled in a protracted legal battle over the 2007 acquisition of Wild Oats, with the FTC claiming it breaches competition regulations.
At the end of last week, the two sides struck a deal to “withdraw this matter from adjudication for five business days”.
Yesterday (2 February), US District Judge Paul Friedman vacated the hearings, previously set for 17 and 18 February, at the request of both parties.
No reasons or further details were provided and neither the FTC nor Whole Foods was available at time of press.
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