2017.08.2400:13:00UTC+00Amazon Gets Green Light for Whole Foods Acquisition

Amazon.com Inc. has won the approval of both a U.S. regulator and shareholders to push forward with its $13.7 billion acquisition of Whole Foods Market Inc., clearing two of the biggest obstacles it needed to clear to complete the deal.

In a statement, the U.S. Federal Trade Commision said that it would not conduct an investigation into the planned merger further after assessing whether the deal would significantly lower competition in the market or was an unfair strategy of competition.

Earlier on Wednesday, Whole Foods announced that its shareholders had also given their seal of approval to the deal via a vote.

Not only will the merger give the online retailer a foothold in the U.S. grocery market, it will also give Amazon over 465 stores where it could display products and ready packages to be delivered.

Whole Food shares edged 0.7 percent in late hours trading to $41.96, still short of the agreements $42 per-share price offer. Amazon shares slid 0.4 percent.

The e-commerce giant said that it was poised to complete the merger sometime this 2017.