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It’s been a month following Amazon CEO Jeff Bezos’ announcement that he was buying the upscale Whole Foods Market grocery chain for $13.7 billion, or $42 a share, in an all-cash transaction.
Now, opposition is mounting against the pending purchase. Proposed federal class-action shareholder lawsuits have been lodged to block the deal, arguing that it isn’t good for Amazon shareholders.
The United Food and Commercial Workers International Union is complaining to the Federal Trade Commission that the accord would reduce competition, limit consumer choice, and kill jobs.
And a member of the Subcommittee on Regulatory Reform, Commercial and Antitrust Law is demanding congressional hearings.
“Competition is essential for a healthy economy.
That’s true across the board.
Amazon’s proposed purchase of Whole Foods could impact neighborhood grocery stores and hardworking consumers across America,” said Rep.
David Cicilline, a Democrat of Rhode Island and the committee’s ranking member. “Congress has a responsibility to fully scrutinize this merger before it goes ahead.
Failing to do so is a disservice to our constituents.”
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