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Whole Foods extends tender offer for Wild Oats to June 20 due to extended waiting period
By Lisa Kerner
Charlotte, N.C., May 22 - Whole Foods Market, Inc. extended its $18.50-per-share tender offer for Wild Oats Markets, Inc. to 5 p.m. ET on June 20 from May 22 as the result of a second request from the Federal Trade Commission and subsequent extension of the Hart-Scott-Rodino waiting period.
A total of 20,956,505 shares of Wild Oats common stock, or about 70.1% of the shares outstanding, were tendered and not withdrawn as of the close of business on May 21, a company news release stated. The tender offer began on Feb. 27 and was slated to end on March 27.
On Feb. 21, Whole Foods agreed to acquire Wild Oats in a transaction valued at about $565 million. Whole Foods expects to fund the deal using $700 million in new senior term loan facilities and plans to expand its existing long-term senior revolving credit facility to $250 million.
Whole Foods Market is an Austin, Texas-based natural and organic foods retailer.
Wild Oats Markets is a chain of natural and organic food markets based in Boulder, Colo.
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