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AUSTIN, Texas -- Whole Foods Market, Inc. said yesterday 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 Tuesday, April 24, 2007, a move prompted by a second request for information on the proposed transaction from the Federal Trade Commission.
The two leading supernatural chains disclosed earlier that they'd received a second request for additional information from the FTC in connection with proposed acquisition. The effect of the second request, Whole Foods said, is to extend the waiting period imposed by the HSR Act until 10 days after Whole Foods has substantially complied with the second request, unless that period is terminated sooner by the FTC.
As a result of the waiting period being extended, the condition to the tender offer requiring that the applicable waiting period under the HSR Act shall have expired or been terminated will not be fulfilled as of March 27, 2007, the original date on which the tender offer was to expire. Thus, the extension to April 24, Whole Foods said.