WASHINGTON/NEW YORK (Reuters) – The top Democrat on the U.S. House of Representatives’ antitrust subcommittee has voiced concerns about Amazon.com Inc’s $13.7 billion plan to buy Whole Foods Market Inc and is pushing for a hearing to look into the deal’s potential impact on consumers.
The deal announced in June marks the biggest acquisition for the world’s largest online retailer. Amazon has not said what it will do with Whole Foods’ stores and other assets, but analysts and investors worry the move could upend the landscape for grocers, food delivery services and meal-kit companies.
U.S. Representative David Cicilline requested the hearing on Thursday in a letter to the chair of the House Judiciary Committee and the subcommittee chairman. Shares of Amazon were up 0.3 percent in mid-morning trading on Friday.
“Amazon’s proposed purchase of Whole Foods could impact neighborhood grocery stores and hardworking consumers across America,” Cicilline said in a statement. “Congress has a responsibility to fully scrutinize this merger before it goes ahead.”
Read the rest of the story at Reuters.
COMMENTS
Please let us know if you're having issues with commenting.