(MENAFN) Amazon Inc. cleared its two biggest problems it needed to close its USD13.7bln acquisition of Whole Foods Market Inc, with approvals form a US regulator and the grocery's chain's shareholders.
In a statement released by the US Federal Trade Commission, it would not pursue investigation into the proposed merger further after reviewing whether the deal would substantially lessen competition an unfair method of competition.
This acquisition will give the world's largest online retailer, Whole Foods, a foothold in the USD700bln US grocery market, it will also give Amazon more than 465 brick-and-mortar stores.
MENAFN2408201700450000ID1095765296
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.