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July 9, 2008 11:08:30 AM CDT

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Court Stalls Whole Foods Merger

Posted Aug 21, 07 7:18 AM CDT in US,  Business    Editor's Choice

(Newser) – A federal court issued a temporary injunction yesterday preventing Whole Foods from buying Wild Oats—at least today. The three-judge panel wants extra time to consider the FTC's argument that combining the nation's two largest organic food retailers would destroy competition. The companies will file additional briefs by tomorrow, and the FTC will have a day to rebut.

The accelerated timetable suggests that that the FTC's appeal is "on its last gasp," a lawyer involved in the case tells Bloomberg. The companies were about to finalize the $565 million deal yesterday when the injunction, which the judges said "should not be construed in any way as a ruling on the merits," came down.

Source Bloomberg

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Jodi May, center, shops with her daughters, Issa, 7, in the shopping cart, and Raina, 6, at the Wild Oats Natural Marketplace, in this July 17, 2007 file photo, in Woodmere Village, Ohio. Consumer prices,...   (Associated Press)
Shoppers filter in and out of the entrance to the Wild Oats Market in Boulder, Colo., on Wednesday, Aug. 15, 2007. (AP Photo/David Zalubowski)   (Associated Press)
Shoppers head into a Wild Oats Market with the Flatirons of the Rocky Mountains in the background in Boulder, Colo., on Wednesday, Aug. 15, 2007. (AP Photo/David Zalubowski)   (Associated Press)
A shopper carries his bags out of a Whole Foods Market on the east side of Boulder, Colo., on Wednesday, Aug. 15, 2007. (AP Photo/David Zalubowski)   (Associated Press)
A Whole Foods Market in Dallas is shown Monday, July 30, 2007. Whole Foods Market Inc. is expected to release quarterly earnings on Tuesday, July 31, 2007. (AP Photo/Donna McWilliam)   (Associated Press)
Produce is displayed at the Whole Foods in Woburn, Mass., Monday, July 30, 2007. Whole Foods Market Inc. is expected to release quarterly earnings on Tuesday, July 31, 2007. (AP Photo/Elise Amendola)   (Associated Press)
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