Whole Foods Market Extends Tender Offer for Outstanding Shares of Common Stock of Wild Oats Markets
20 Juli 2007 - 3:20PM
PR Newswire (US)
AUSTIN, Texas, July 20 /PRNewswire-FirstCall/ -- Whole Foods
Market, Inc. (NASDAQ:WFMI) announced today that it had extended the
expiration date for its tender offer to purchase outstanding shares
of Wild Oats Markets, Inc. (NASDAQ:OATS) to 5:00 p.m. on Friday,
August 10, 2007. As of the close of business on July 19, 2007, a
total of 17,049,990 shares of common stock of Wild Oats, which
represent approximately 57.1% of the 29,882,910 shares that were
outstanding as of April 27, 2007 (according to the most recent
Quarterly Report on Form 10-Q filed by Wild Oats) have been
tendered and not withdrawn pursuant to the tender offer. About the
Transaction: On February 21, 2007, Whole Foods Market entered into
a merger agreement with Wild Oats, pursuant to which Whole Foods
Market, through a wholly-owned subsidiary, has commenced a tender
offer to purchase all of the outstanding shares of Wild Oats at a
purchase price of $18.50 per share in cash. On June 7, 2007, the
Federal Trade Commission (FTC) filed a suit in the federal district
court to block the proposed acquisition on antitrust grounds and
seeking a temporary restraining order and preliminary injunction
pending a trial on the merits. Whole Foods Market and Wild Oats
consented to a temporary restraining order pending a hearing on the
preliminary injunction, which has been scheduled to commence on
July 31, 2007 and to conclude on August 1, 2007. About Whole Foods
Market: Founded in 1980 in Austin, Texas, Whole Foods Market(R) is
a Fortune 500 company and one of the leading retailers of natural
and organic foods. The Company had sales of $5.6 billion in fiscal
year 2006 and currently has 196 stores in the United States, Canada
and the United Kingdom. About Wild Oats: Wild Oats Markets, Inc. is
a nationwide chain of natural and organic foods markets in the U.S.
and Canada. With more than $1.2 billion in annual sales, Wild Oats
currently operates 110 natural food stores in 24 states and British
Columbia, Canada. The Company's markets include: Wild Oats
Marketplace, Henry's Farmers Market, Sun Harvest and Capers
Community Markets. For more information, please visit Wild Oats'
website at http://www.wildoats.com/. The following constitutes a
"Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995: Except for the historical information contained
herein, the matters discussed in this press release are
forward-looking statements that involve risks and uncertainties,
which could cause our actual results to differ materially from
those described in the forward looking statements. These risks
include but are not limited to general business conditions, the
timely development and opening of new stores, the impact of
competition, and other risks detailed from time to time in the
Company's SEC reports, including the reports on Form 10-K for the
fiscal year ended September 24, 2006. Whole Foods Market undertakes
no obligation to update forward-looking statements. Securities Law
Disclosure: The description contained herein is neither an offer to
purchase nor a solicitation of an offer to sell shares of Wild Oats
Markets, Inc. Whole Foods Market, Inc. and WFMI Merger Co. have
filed with the Securities and Exchange Commission a tender offer
statement on Schedule TO and certain amendments thereto, and have
mailed an offer to purchase, forms of letter of transmittal and
related documents to Wild Oats' stockholders. Wild Oats has filed
with the Securities and Exchange Commission, and has mailed to Wild
Oats' stockholders, a solicitation/recommendation statement on
Schedule 14D-9 with respect to the tender offer. These documents
contain important information about the tender offer, including the
terms of the tender offer, and stockholders of Wild Oats are urged
to read them carefully. Stockholders of Wild Oats may obtain a free
copy of these documents and other documents filed by Wild Oats or
Whole Foods Market with the Securities and Exchange Commission at
the website maintained by the Securities and Exchange Commission at
http://www.sec.gov/ or by contacting the information agent for the
tender offer, Georgeson Inc., at (212) 440-9800 or (866) 313-2357
(toll free), or the dealer manager for the tender offer, RBC
Capital Markets Corporation, at (415) 633-8668 or (800) 777-9315
x8668 (toll free). Contact: Cindy McCann VP of Investor Relations
512.542.0204 DATASOURCE: Whole Foods Market, Inc. CONTACT: Cindy
McCann, VP of Investor Relations of Whole Foods Market, Inc.,
+1-512-542-0204 Web site: http://www.wholefoodsmarket.com/
http://www.wildoats.com/
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