US regulators have agreed to a request from Whole Foods Market to suspend their case against the organics retailer for five days to pursue settlement talks.
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The US Federal Trade Commission (FTC) yesterday (29 January) granted Whole Foods’ desire for a pause in the case, which is examining the retailer’s 2007 acquisition of rival Wild Oats Markets.
Last week, an appeals court turned down a request from Whole Foods to delay an FTC trial into the US$565m deal. The trial has been slated to start on 6 April.
However, the two sides have struck a deal to hold off the case for a brief period. The FTC said it would “withdraw this matter from adjudication for five business days”.
The FTC and Whole Foods have been embroiled in legal battles for over a year over the acquisition of Wild Oats.
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By GlobalDataThe FTC believes the deal is anti-competitive. Whole Foods, which has already rebranded some of the Wild Oats stores, insists it competes head on with mainstream grocery chains that sell better-for-you products.
