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Amazon to acquire Whole Foods Market for $13.7 Billion

Amazon to take over US grocer Whole Foods for $13.7 Billion in all-cash transaction.
BY BEx Bureau
BusinessEx
Jun 17, 2017

Amazon plans to diversify its product offering and enhance its operations in groceries. With the focus on the same, the e-commerce major is in discussions to acquire US grocer Whole Foods Market with an estimated amount of $13.7 billion, as per company statement revealed. This deal will become Amazons largest deal till date.

Amazon sees eye to eye with the deal and is ready to disburse $42 per share in cash to get hold of Texas-based Whole Foods and debt of approximately 27% premium to the stock price is also included.

This collaboration will affect both online and offline Companys competing in the same industry. This sell-out of business by Whole Foods was made because of the pressure created by various buyers after Jana buys 8% stake in the company. John Mackey, CEO of Whole Foods get to keep his job even after the acquisition by Amazon.

This partnership presents an opportunity to maximise value for Whole Foods Markets shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience, and innovation to our customers, John Mackey said.

Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthily, Jeff Bezos, CEO of Amazon said.

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