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Whole Foods shareholders vote in favor of Amazon takeover

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Whole Foods shareholders vote in favor of Amazon takeover

Whole Foods shareholders approved Amazon’s takeover of the grocery chain on Wednesday.

The vote was a pivotal step forward in the behemoth online retailer’s move to gain firmer footing in the multibillion dollar grocery space.

Amazon and Whole Foods have both said they want the $13.7 billion deal to be completed by the end of the year.

Regulators, including the Department of Justice (DOJ) and Federal Trade Commission, are still assessing the proposed acquisition, but experts don’t anticipate the agencies to find any anticompetitive issues.

Even though the deal is expected to be approved, critics on Capitol Hill have noted their concern for its impact outside of what the DOJ factors into its review.

Sen. Cory Booker (D-N.J.) and 11 other members of Congress pushed the DOJ in July to examine the scope of the deal’s impact on food deserts, or areas where there is not an accessible grocery store.

Earlier last month, Rep. David Cicilline (D-R.I.) asked House Judiciary Chairman Bob Goodlatte (R-Va.) and subcommittee on Regulatory Reform, Commercial and Antitrust Law Chairman Tom Marino (R-Pa.) to call a hearing on the $13.7 billion deal, citing concerns over the merger’s impact on prices for consumers and the potential roadblocks to innovation it could pose.

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