Amazon buying Whole Foods in $13.7B deal
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 of Whole Foods Market Inc. That marks an 18 percent premium to Whole Foods closing price on Thursday.
The deal is targeted to close in the second half of the year.
A press release states that Whole Foods Market will continue to operate stores under the Whole Foods Market brand and source from trusted vendors and partners around the world. John Mackey will remain as CEO of Whole Foods Market and Whole Foods Market’s headquarters will stay in Austin, Texas.
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.
No comments:
Post a Comment