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FTC Approves Amazon's Acquisition of Whole Foods (cnbc.com)

Posted by BeauHD on from the green-light dept.

An anonymous reader quotes a report from CNBC: The Federal Trade Commission will allow Amazon to continue its $13.7 billion deal to acquire Whole Foods. The FTC conducted an investigation to gauge whether the merger would decrease competition under federal regulations, Bruce Hoffman, acting director of the Federal Trade Commission's Bureau of Competition, said in a statement Wednesday. It ultimately decided not to pursue the matter further. Whole Foods shareholders approved Amazon's acquisition deal hours before the FTC's announcement.The two companies expect to finalize the agreement during the second half of the year. However, source familiar with the matter told CNBC the deal could happen sooner rather than later.

5 of 54 comments (clear)

  1. Wrong, Hello! by SuperKendall · · Score: 3, Interesting

    Amazon buying Whole Foods is breathing new life into a dying (or at least stagnant) industry. How has grocery shopping for you changed over the last several decades? Answer: it hasn't. Amazon just by not being the same old way of doing business, will probably change all grocery stores for the better.

    Amazon is amazingly adept at moving product around in a timely manner at low costs. How can that NOT make a grocery experience better?

    Also have to admit I'm looking forward to my free cantaloupe for being a Prime member... :-)

    --
    "There is more worth loving than we have strength to love." - Brian Jay Stanley
    1. Re:Wrong, Hello! by Fly+Swatter · · Score: 2

      What is wrong with grocery shopping as it is now? They have what I want, it's up to date and the produce is fresh.

      If we follow the Amazon way, the grocery experience will be that you walk into the grocery store and half the time what you want will be replaced by a slightly cheaper brand you never heard of. It won't taste the same, but close. Next time you see the brand name food you really like, but because a knock-off made it into inventory it tastes disgusting, or it is recalled before you get home with it.

  2. Re:And so... by Anonymous Coward · · Score: 2, Informative

    What melodramatic schlock. "Oh, woe is me, I'll have to shop at Safeway or Kroger or Food City or Food 4 Less or Sprouts or Natural Grocers or Trader Joes or Bashes or US foods or Costco or Walmart or Target or any number of the Asian markets around here if I don't like Amazon. Competition is sooo diminished, Amazon totally has a monopoly on food now!"

  3. Whole Foods market share by Kohath · · Score: 5, Insightful

    Whole Foods has a very tiny market share in groceries. There's no reason to block the deal because the grocery market is super competitive.

    The FTC is a legal enforcement agency. They don't use internet conspiracy theories or grudges in their decision making. They can't make up a dystopian fairy tale to decide things like this.

    1. Re:Whole Foods market share by MatthiasF · · Score: 2

      Supermarket industry is super competitive but also very fragile. I've seen chains disappear, stores go out of business from over-supply and lots of turn-over for the retail spaces made for them. If Amazon can disrupt, it could be a bigger deal than you think.