The Federal Trade Commission will not pursue any continued investigation into Amazon.com's (AMZN) - Get Report $13.7 billion acquisition of upscale grocer Whole Foods Market (WFM) , according to a statement from the Commission.
The FTC conducted an initial probe to determine if the deal "substantially lessened competition" or "constituted an unfair method of competition," but found neither to be issues and decided to drop any further investigation. "Of course, the FTC always has the ability to investigate anticompetitive conduct should such action be warranted," the FTC's Bureau of Competition said.
The announcement came soon after Whole Foods shareholders approved the Amazon deal in a Wednesday meeting. The acquisition is expected to close before the end of the year.
Amazon stock traded down 0.2% to $955.77 at Thursday's open, while Whole Foods shares were up 0.7% to $41.96.
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