The Federal Trade Commission (FTC) announced yesterday that it has approved Amazon’s proposed acquisition of Whole Foods. The announcement comes one day after Whole Foods shareholders voted to approve the $13.7 billion deal.
Amazon plans to close the deal later this year.
The FTC investigated the proposed merger to determine whether it would substantially lesson competition under Section 7 of the Clayton Act, or whether it would constitute an unfair method of competition under Section 5 of the FTC Act. According to the FTC’s Bureau of Competition, the agency has decided not to pursue the matter further.
