Amazon is Buying Whole Foods

[bjl584]

http://www.cnbc.com/2017/06/16/amazon-is-buying-whole-foods-in-a-deal-valued-at-13-point-7-billion.html

Amazon is buying Whole Foods in a deal valued at $13.7 billion



•Amazon to acquire Whole Foods for $42 a share, in a deal valued at $13.7 billion.
•John Mackey will remain CEO of the grocery store chain.
•The deal is expected to close in the second half year.

Sarah Whitten | Christina Cheddar Berk

11 Mins Ago
Breaking News


Amazon said Friday it plans to acquire Whole Foods Market for $42 a share, in a deal valued at $13.7 billion.

Whole Foods CEO John Mackey will remain CEO of the grocery store chain after the deal closes, and the store will continue to operate under the Whole Foods brands.

The deal is expected to close in the second half year.


"This partnership presents an opportunity to maximize value for Whole Foods Market's shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers," Mackey said in a statement.

Whole Foods has been under pressure from activist investor Jana Partners, which acquired a stake in the company earlier this year and had been pushing the company to accelerate its turnaround or put itself up for sale.

This story is developing. Please check back for further updates.

[Sam1000]

WFM still a terrible company with the core employees gone. Needs to be gutted and rebuilt or used as locations for distribution by AMZN.