FTC Okays Amazon's Acquisition Of Whole Foods

(RTTNews) - The Federal Trade Commission said that it has decided not to pursue an investigation of Amazon's (AMZN) purchase of Whole Foods Market Inc.(WFM).

Acting FTC Bureau of Competition Director Bruce Hoffman said the agency examined whether the deal "substantially lessened competition under Section 7 of the Clayton Act, or constituted an unfair method of competition under Section 5 of the FTC Act."

In mid-June 2017, Amazon agreed to acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods Market's net debt.