FTC Gives Greenlight To Amazon’s Whole Foods Deal

Whole Foods flagship store in Austin, Texas and the other 450 stores will become part of the Amazon empire, giving the online behmoth an immediate presence on Main Street and threatening to disrupt the retail grocery business.
AFP. Drew Anthony Smith

Amazon’s bid to purchase Whole Foods has cleared its major regulatory hurdle.

The Federal Trade Commission said Wednesday that it will not pursue action to block the deal.

“The FTC conducted an investiae whether it substantially lessened competition under Section 7 of Clayton Act, or constituted an unfair method of competition under section 5 of the FTC Act. Based on our investigation we have decided not to pursue this matter further,” acting FTC director Bruce Hoffman said in a statement.

The deal was approved by Whole Food’s shareholders earlier Wednesday. It is expected to be finalized later this year.

.