Amazon buying Whole Foods.

by w3woody

Amazon is buying Whole Foods. More information:

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

Whole Foods’ 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 brand.

Amazon’s offer represents a 27 percent premium to Whole Foods’ closing price on Thursday. 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.

Advertisements