Whole Foods Market (WFMI) Extends Tender Offer to Acquire Wild Oats (OATS)
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Whole Foods Market, Inc. (Nasdaq: WFMI) had extended the expiration date for its tender offer to purchase outstanding shares of Wild Oats Markets, Inc. (Nasdaq: OATS) 5:00 p.m., New York City time, on Wednesday, June 20, 2007.
(On February 21, 2007, the Company and Wild Oats Markets announced they signed a definitive merger agreement under which the Company would acquire Wild Oats Markets' outstanding common stock in a cash tender offer at a price of $18.50 per share, or approximately $565 million based on fully diluted shares)
Although the FTC has not yet decided whether to challenge the Wild Oats transaction, members of the FTC staff have voiced concerns regarding perceived anticompetitive effects resulting from the proposed tender offer and merger. Approval of the transaction by Whole Foods Market shareholders is not required.
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