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Better late than never?

Dow Jones reports that the US Federal Trade Commission (FTC) has scheduled its administrative hearing into the legality of Whole Foods’ 2007 acquisition of Wild Oats for February 16, 2009 – a year and a half after the deal was closed and Whole Foods absorbed all of Wild Oats’ operations into its own business.

The FTC also rejected a Wild Oats request that none of its commissioners preside over the case, and that an impartial administrative law judge be named; the FTC said that none of its commissioners had prejudged the case and were not biased against Whole Foods – this despite the fact that the FTC has continued to try to dismantle a deal completed more than a year and half ago.

The FTC continues to work through the courts and appeals process to try and undo the $565 million acquisition.

KC's View:
Not biased against the Whole Foods-Wild Oats deal? They gotta be kidding. The FTC is like a bunch of rabid dogs with a hunk of raw meat…they can't let go, and they seem completely disconnected from competitive realities.

The only question is whether whatever administration occupies the White House next February allows this travesty and waste of taxpayer money to proceed.