AMAZON TO BUY WHOLE FOODS MARKET FOR $13.7 BILLION

June 16, 2017 The Unbiased Writer

Seattle-based e-commerce platform Amazon has announced that it will be acquiring Whole Foods Market for $13.7 billion USD in cash. According to Bloomberg reporting, Amazon will pay $42 USD per share and Whole Foods’ co-founder and CEO John Mackey will stay in charge of the supermarket chain. ‘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. Additionally, the move most likely is to help AmazonFresh- Amazon’s grocery pickup service. The Whole Foods x Amazon deal is expected to close in the second half of 2017. Stay tuned for updates!

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