Breaking News: Amazon is buying Whole Foods in $13.7-billion deal

Amazon said Friday it is buying Whole Foods Market in a deal valued at about $13.7 billion, including debt. Amazon.com Inc. will pay $42 per share of Whole Foods...

Amazon said Friday it is buying Whole Foods Market in a deal valued at about $13.7 billion, including debt.

Amazon.com Inc. will pay $42 per share of Whole Foods Market Inc.

The deal is targeted to close in the second half of the year.

Whole Foods’ John Mackey will continue as chief executive of the grocery store chain after the deal closes, and the store will continue to operate under the Whole Foods brand, the companies said.

“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.

 

Source: Los Angeles Times

Photo Credit: KXAN

 

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