Whole Foods Closes Wild Oats Purchase [WFMI]

[Omaha Steve]

Source: RTT News

Whole Foods Market, Inc. (WFMI) said Tuesday that it has closed its proposed $565 million acquisition of rival organic grocer Wild Oats Markets, Inc. (OATS), ending a six-month takeover drama that included a court battle initiated by the U.S. Federal Trade Commission.

Whole Foods said it has purchased 84.1% of Wild Oats' outstanding common stock in a cash tender offer of $18.50 per share, and will purchase as delivered over the next three business days about 12.7% of the outstanding shares of Wild Oats common stock, represented by the shares subject to guaranteed delivery. On Monday, Whole Foods said Wild Oats shareholders had tendered 96.8% of the outstanding shares.

The company will acquire the remaining outstanding shares of Wild Oats common stock pursuant to the short-form merger procedure available under Delaware law.

Whole Foods also said it has assumed about $137 million of Wild Oats' existing debt, net of cash. The company said it has incurred $3.8 million in direct acquisition-related costs through July 1, which, along with any additional acquisition-related costs incurred since that time, will be capitalized as part of goodwill.



Read more: http://www.rttnews.com/sp/todaystop.asp?date=08/28/2007&item=26&vid=0

[Dora]

1. Bummer.

I love shopping at Sun Harvest. Whole Foods, not so much.