Amazon, Buzz, TC, Whole Foods

FTC approves of Amazon and Whole Foods deal

The U.S. Federal Trade Commission is allowing Amazon to move forward in the process of purchasing Whole Foods.

The $13.4 billino acquisition, which was announced in June, combines the e-commerce behemoth with a major grocery chain. The FTC then investigated whether this would decrease competition and ultimately concluded that it was not a problem.

Whole Foods shareholders have also now approved the deal. It was a good deal for them because Amazon paid a 27% premium on the stock price.

While this FTC investigation could have potentially been a big roadblock, the deal is not yet finalized. It is expected to close by the end of the year.

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