Whole Foods Market Extends Tender Offer for Outstanding Shares of Common Stock of Wild Oat Markets
Whole Foods Market and Wild Oats consented to a temporary restraining order pending a hearing on the preliminary injunction, which has been scheduled to commence on July 31, 2007 and to conclude on August 1, 2007.
20/06/07 Whole Foods Market, Inc. announced that it had extended the expiration date for its tender offer to purchase outstanding shares of Wild Oats Markets, Inc. to 5:00 p.m. on Friday, July 20, 2007.
As of the close of business on June 15, 2007, a total of 17,301,505 shares of common stock of Wild Oats, which represent approximately 57.9% of the 29,882,910 shares that were outstanding as of April 27, 2007 (according to the most recent Quarterly Report on Form 10-Q filed by Wild Oats) have been tendered and not withdrawn pursuant to the tender offer.
About the Transaction: On February 21, 2007, Whole Foods Market entered into a merger agreement with Wild Oats, pursuant to which Whole Foods Market, through a wholly-owned subsidiary, has commenced a tender offer to purchase all of the outstanding shares of Wild Oats at a purchase price of $18.50 per share in cash. On June 7, 2007, the Federal Trade Commission (FTC) filed a suit in the federal district court to block the proposed acquisition on antitrust grounds and seeking a temporary restraining order and preliminary injunction pending a trial on the merits. Whole Foods Market and Wild Oats consented to a temporary restraining order pending a hearing on the preliminary injunction, which has been scheduled to commence on July 31, 2007 and to conclude on August 1, 2007.
