Wednesday, August 23, 2017

BREAKING: FTC Approves Amazon's Acquisition of Whole Foods

This is a developing story. Return to this post for updates.

UPDATE 1

Following a vote earlier today where Whole Foods shareholders approved Amazon’s takeover of the grocery chain, the FTC has approved the acquisition.

UPDATE 2

Bruce Hoffman, the Acting Director of the Federal Trade Commission’s Bureau of Competition, issued this statement on the Commission’s decision not to further pursue an investigation of Amazon.com, Inc.’s acquisition of Whole Foods Market Inc.:
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 anticompetitive conduct should such action be warranted.
UPDATE 3

Is this more evidence that President Trump is more bark than bite? Several times Trump has called out Amazon founder Jeff Bezos and Amazon in comments and on Twitter. But in the end, things went smoothly for the Amazon acquisition in the White House Era of Trump.

   -RW

3 comments:

  1. "But in the end, things went smoothly for the Amazon acquisition in the White House Era of Trump"

    So now you're trashing Trump for not interfering with a free market transaction? You sound like MSNBC at this point.

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    Replies
    1. LOL where did Wenzel say he should have blocked the merger?

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    2. "Is this more evidence that President Trump is more bark than bite? Several times Trump has called out Amazon founder Jeff Bezos and Amazon in comments and on Twitter."

      That makes it sound as if Wenzel was expecting Trump to block the merger, in which case he would have rightfully trashed him.

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