FTC Approves Amazon’s Acquisition of Whole Foods Market
By Rob Scott
August 24, 2017
August 24, 2017
Federal antitrust regulators approved Amazon’s acquisition of Whole Foods Market yesterday, shortly after Whole Foods shareholders voted to approve the deal. The $13.4 billion acquisition “will give Amazon a major brick-and-mortar presence with more than 460 stores in a huge retail category where success has eluded the company,” reports The New York Times. “Amazon has run an Internet grocery business, AmazonFresh, for a decade, but it accounts for less than a 2 percent share of total grocery spending in the United States.” The Federal Trade Commission concluded that the proposed merger would not harm competition.
Topics: Acquisition, Amazon, AmazonFresh, Antitrust, Austin, Brick-and-Mortar, Bruce Hoffman, E-Commerce, Federal Trade Commission, Food and Beverage, FTC, Government, Grocery Store, Health Food, Internet, Jeff Bezos, John Mackey, Online Shopping, Regulation, Retail, Seattle, Texas, Whole Foods Market
No Comments Yet
You can be the first to comment!
Sorry, comments for this entry are closed at this time.