Amazon is buying Whole Foods for $13.7 billion
06-16-2017, 09:47 AM
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Amazon is buying Whole Foods for $13.7 billion
NEW YORK (AP) - Online juggernaut Amazon is buying Whole Foods in a deal valued at about $13.7 billion, including debt.
Amazon.com Inc. will pay $42 per share for Whole Foods Market Inc. That marks an 18 percent premium to Whole Foods closing price on Thursday.
The deal comes a month after Whole Foods announced a board shake-up and cost-cutting plan amid falling sales. The grocery store operator was also under pressure from activist investor Jana Partners.
Good for Whole Foods as it helps them out but I wonder what could be in it for Amazon. Maybe home delivery service of fresh food?
Amazon.com Inc. will pay $42 per share for Whole Foods Market Inc. That marks an 18 percent premium to Whole Foods closing price on Thursday.
The deal comes a month after Whole Foods announced a board shake-up and cost-cutting plan amid falling sales. The grocery store operator was also under pressure from activist investor Jana Partners.
Good for Whole Foods as it helps them out but I wonder what could be in it for Amazon. Maybe home delivery service of fresh food?
