Whole Foods Market Extends Tender Offer for Outstanding Shares of Common Stock of Wild Oats Markets
Whole Foods Market and Wild Oats consented to a temporary restraining order pending a hearing on the preliminary injunction, which concluded on August 1, 2007.
20/08/07 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., Eastern time, on Monday, August 20, 2007.
As of the close of business on August 15, 2007, a total of 20,769,895 shares of common stock of Wild Oats, which represent approximately 69.4% of the 29,926,251 shares that were outstanding as of July 27, 2007 (according to the most recent Quarterly Report on Form 10-Q filed by Wild Oats) have been tendered and not withdrawn pursuant to the tender offer.
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 concluded on August 1, 2007. The parties anticipate receiving a ruling from the federal district court in mid-August.
