FTC Approves Whole Foods – Amazon Merger

Labor News

The Federal Trade Commission’s decision allows the companies to complete their $13.7 billion deal. PHOTO: ROGELIO SOLIS/ASSOCIATED PRESS

Reprinted from The Wall Street Journal by Brent Kendall and Heather Haddon on August 23, 2017.

Amazon.com Inc.’s takeover of Whole Foods Market Inc. cleared its biggest hurdle on Wednesday as federal regulators approved the e-commerce giant’s big bet on the more than $700 billion food retail market.

The Federal Trade Commission’s decision allows the companies to complete their $13.7 billion deal, including debt, and avoid a prolonged antitrust investigation.

Whole Food shareholders also cleared the deal Wednesday, the Austin, Texas-based company said. Amazon shareholders don’t need to sign off on the transaction. …

The United Food and Commercial Workers International Union, a national labor group that opposed the deal, said it hoped Amazon would protect jobs rather than pushing automation. …

WSJ 8/23

About Jeffrey Burman 1649 Articles
Jeff Burman represents assistant editors on the Guild’s Board of Directors. He can be reached at jeffrey.s.burman.57@gmail.com.

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