Whole Foods extends offer for Wild Oats

AUSTIN, Texas Whole Foods Market announced today that it had extended the expiration date for its tender offer to purchase outstanding shares of Wild Oats Markets to Aug. 15.

As of the close of business on Aug. 9, a total of 16,641,830 shares of common stock of Wild Oats, which represent approximately 55.6% of the 29,926,251 shares that were outstanding as of July 27 (according to the most recent Quarterly Report on Form 10-Q filed by Wild Oats) have been tendered and not withdrawn pursuant to the tender offer.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 Feb. 21, 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, the Federal Trade Commission  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 Aug. 1. The parties anticipate receiving a ruling from the federal district court in mid-August.