Friday, June 16, 2017

Amazon to buy Whole Foods for $13.7 billion

Amazon.com Inc. said it would buy Whole Foods Market Inc. for $13.7 billion as the giant internet retailer makes a deeper push into the grocery space.

Amazon will pay $42 a share for Whole Foods  valuing the grocer at a 27% premium to its closing price Thursday. The deal is expected to close in the second half of this year.

Amazon’s move tanked the stocks of grocery competitors as investors worried that Amazon could do to grocery the same as it did to booksellers.. . . more

No comments: