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FTC’s speedy approval of Amazon/Whole Foods deal draws scrutiny

Joe Mont | August 30, 2017

On Monday, after a speedy approval process, Amazon took control of supermarket chain Whole Foods. Now, at least one elected official is questioning the seeming lack of scrutiny applied to the deal.

On Aug. 23, Bruce Hoffman, acting director of the Federal Trade Commission’s Bureau of Competition, issued the following statement: “The FTC conducted an investigation of this proposed acquisition to determine whether it substantially lessened competition under Section 7 of the Clayton Act, or constituted an unfair method of competition under Section 5 of the FTC Act. Based on our investigation we have decided not to pursue this matter further”

“Of course, the FTC always has the ability to investigate anticompetitive conduct should such action be warranted,” Hoffman added.

Sen. Amy Klobuchar (D-Minn.) questioned the scope and speed of the... To get the full story, subscribe now.