Whole Foods extends Wild Oats tender offer again
August 10, 2007
by FoodBusinessNews.net Staff
AUSTIN, TEXAS — Whole Foods Market, Inc. has once again extended the expiration date for its tender offer to purchase outstanding shares of Wild Oats Markets, Inc. to Aug. 15.
On Aug. 9, 16,641,830 shares of Wild Oats’ common stock, representing 55.6% of the 29,926,251 shares outstanding on July 27, have been tendered.
On Feb. 21, Whole Foods Market entered into a merger agreement with Wild Oats. On June 7, the Federal Trade Commission filed suit in federal district court to block the acquisition due to antitrust concerns. Whole Foods and Wild Oats agreed to a temporary restraining order pending a hearing on a preliminary injunction. The hearing concluded Aug. 1, and the companies expect to receive a ruling from federal district court in mid-August.
Whole Foods has extended the expiration date for its tender offer several times previously.