Whole Foods, still hoping that it will be able to acquire natural/organic foods retailer Wild Oats for $565 million, has extended its offer yet again, to August 10.
The extension comes as Whole Foods battles with the Federal Trade Commission (FTC) over the acquisition, which the government opposes for being anti-competitive. At the same time, Whole Foods CEO John Mackey has come under fire for his habit of blogging under an alias; during the eight years he made anonymous postings, he belittled Wild Oats and hyped his own company, a practice that may not have been illegal but certainly has raised questions about his judgment.
A court hearing on the FTC challenge is scheduled for August 1.
The extension comes as Whole Foods battles with the Federal Trade Commission (FTC) over the acquisition, which the government opposes for being anti-competitive. At the same time, Whole Foods CEO John Mackey has come under fire for his habit of blogging under an alias; during the eight years he made anonymous postings, he belittled Wild Oats and hyped his own company, a practice that may not have been illegal but certainly has raised questions about his judgment.
A court hearing on the FTC challenge is scheduled for August 1.
- KC's View:
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The shame is that Mackey has handed his opponents plenty of ammunition, enough so that the FTC may prevail in this case.
If the FTC is successful in blocking the Whole Foods-Wild Oats, is it then possible that some other company will step in and try to buy Wild Oats? What would the FTC response to that be?
It doesn’t seem likely that Wild Oats can survive on its own. So the question is, who gets to buy it? And how is the consumer best served?
