UPDATED - Amazon to buy Whole Foods Market in deal valued at $13.7 billion [View all]

[DonViejo]

Source: The Washington Post

By Washington Post Staff June 16 at 9:10 AM

The organic grocer would continue to operate under its existing brand. The deal is expected to close in the second half of 2017, pending shareholder and regulatory approvals.

This is a developing story. It will be updated.

Read more: https://www.washingtonpost.com/news/business/wp/2017/06/16/amazon-to-buy-whole-foods-market-in-deal-valued-at-13-7-billion/?pushid=5943d8c4658e691d00000056&tid=notifi_push_breaking-news&utm_term=.a7616484338d

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Amazon is buying Whole Foods for $13.7 billion

Myles Udland Yahoo Finance June 16, 2017

Amazon (AMZN) is buying Whole Foods (WFM) for $13.7 billion, the companies announced on Friday.

In a statement Friday morning, the online retailer said it would buy the high-end grocer for $42 per share, more than the $33.06 per share Whole Foods closed at on Thursday.

The deal is Amazon’s biggest deal ever, topping the $1.2 billion the company paid for online footwear retailer Zappos in 2009. In pre-market trading on Friday, Amazon shares were up slightly, rising about 0.9%. Whole Foods shares were halted for trade shortly after 9:00 a.m. ET.

Amazon CEO Jeff Bezos said, “Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy. “Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades – they’re doing an amazing job and we want that to continue.”

John Mackey, the CEO of Whole Foods, will remain CEO of the company and its headquarters will remain in Austin, Texas. The companies expect the deal to close in the second half of this year.

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