As we blogged last week, the Federal Trade Commission's injunction to stop Whole Foods' $565 million merger with fomer competitor, Wild Oats, was denied. Whole Foods was set to merge with Wild Oats as early as today. Not so fast. Friday, the FTC appealed the denial and requested that the judge delay the merger.
Whole Foods is "confident that the merger will be allowed to proceed" and I'm sure the organic grocer feels pretty good about stock prices too. Whole Foods shares jumped 7% after the appeal was announced.