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| Economy |
| Government Clears Amazon's $13 Billion Purchase Of Whole Foods |
| 2017-08-24 |
| [Daily Caller] The government has cleared the way for Amazon to purchase Whole Foods, Inc., in a deal worth as much as $13.7 billion. The Federal Trade Commission (FTC) said in a Wednesday statement that the deal would not violate antitrust laws or result in creation of an anticompetitive market. "Based on our investigation we have decided not to pursue this matter further," Bruce Hoffman, the Acting Director of the Federal Trade Commission’s Bureau of Competition, said in the statement. "Of course, the FTC always has the ability to investigate anticompetitive conduct should such action be warranted." The board of directors for organic food seller Whole Foods approved the sale earlier Wednesday, CNBC reports. The deal means that Amazon, owned by Jeff Bezos, will enter the traditional retail food market, in addition to controlling a large percentage of online sales. |
| Posted by:Besoeker |
| #2 Then the government is O.K. with monopolies? |
| Posted by: JohnQC 2017-08-24 13:23 |
| #1 ...or result in creation of an anticompetitive market Really, you guys been locked in the Beltway for a long time haven't you? For good or bad, Amazon has been leveraging itself hammering others in the market and you haven't got a clue. What China has done to American jobs and manufacturing, Amazon has been doing to distribution and marketing and you use the word anticompetitive? You may understand the 'legalistic' term, but not the intent. |
| Posted by: Procopius2k 2017-08-24 10:01 |