Webvan and HomeGrocer One Step Closer to Merger
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Webvan Group, Inc. and Seattle's HomeGrocer.com moved one-step closer to finalizing their merger, after receiving notification of the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
The expiration of that waiting period is a condition to the completion of the merger.
Last June, Webvan and HomeGrocer announced a definitive merger agreement under which Webvan will acquire HomeGrocer.com in a stock-for-stock transaction. The combined company will operate under the name Webvan Group, Inc.
Webvan and HomeGrocer will hold special meetings of stockholders on Thursday, August 31, to consider the proposed merger agreement.