Paper Clips

Insights that drive Packaging, Paper and Performance

Amazon resubmits paperwork on Whole Foods Market deal

Amazon is working with government officials to head off a lengthy deal investigation.

Amazon will re-file documents this week seeking government approval of its planned purchase of Whole Foods Market for $13.7 billion. The move will restart the process, giving U.S. antitrust enforcers more time to complete an early review of the retailers’ planned tie-up, according to the Wall Street Journal.

Companies often use this tactic in the hopes that antitrust enforcers will get comfortable enough with their transaction during the extended initial review and agree to forego a longer probe. The government’s 30-day review period of the acquisition began on June 23, the Journal said.

Amazon’s decision to refile comes on the heels of several officials, including Democrats in Congress, calling for a close review of the purchase. Many are raising questions about how the deal might further bolster Amazon’s online muscle, and its impact on the future of the grocery industry, according to The Street.

Other antitrust observers are less concerned, reporting that the Amazon-Whole Foods merger will not equate into a dominant share of the grocery market, according to the Journal.
http://www.chainstoreage.com/article/amazon-resubmits-paperwork-whole-foods-market-deal

Related Posts

Operating revenues were $854.2 million, including approximately $49.1 million from the 53rd week, compared to $867.0 million in the prior year quarter. Favorable changes in foreign currency exchange rates benefited revenues by $4.2 million. Same store operating revenues declined 8.8%, an improvement compared to a decline of 9.4% in the third quarter of 2017, due to our strategic subscriber pricing initiatives and the inclusion of a full quarter of ReachLocal revenue in our same store calculation. Total digital revenues increased to $272.3 million, or approximately 31.9% of total revenue. GAAP net losses were $13.6 million, including a $42.8 million tax expense from the Tax Cuts and Jobs Act of 2017 and $27.6 million of after-tax restructuring, asset impairment charges and other costs. Click Read More below for additional information.

Ulta Beauty Announces First Quarter Fiscal 2018 Results

• Net sales increased 17.4% to $1,543.7 million compared to $1,314.9 million in the first quarter of fiscal 2017; • Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 8.1% compared to an increase of 14.3% in the first quarter of fiscal 2017. The 8.1% comparable sales increase was driven by 5.1% transaction growth and 3.0% growth in average ticket; • Retail comparable sales increased 4.7%, including salon comparable sales growth of 3.2%; • Net income increased 28.2% to $164.4 million compared to $128.2 million in the first quarter of fiscal 2017. Click Read More below for additional information.

IAC’s Dotdash Announces Close of Meredith Transaction

IAC company Dotdash announced the completion of its acquisition of Meredith Holdings Corp., owner of world-class brands such as PEOPLE, Better Homes & Gardens, FOOD & WINE, Allrecipes, Southern Living, InStyle and REAL SIMPLE, in an all cash transaction at a purchase price of $42.18 per share. The new Dotdash Meredith combines celebrated and iconic brands with digital DNA to create America’s largest digital and print publisher—a top 10 internet property[1] able to deliver intent-driven content and experiences at scale. The company, headquartered in New York City and led by CEO Neil Vogel, will be its own reporting segment within IAC. “Today marks the start of a big new opportunity at IAC—conceived by the ambitious minds of Neil Vogel and the Dotdash team and made possible in collaboration with our talented new colleagues from Meredith—to define a new future in publishing,” said Joey Levin, CEO of IAC. “Dotdash Meredith has a bright future ahead.”
Back To Top
×Close search
Search