General Category > Economy/Business
Amazon is buying Whole Foods in a deal valued at $13.7 billion
SirLinksALot:
SOURCE: CNBC
URL: http://www.cnbc.com/2017/06/16/amazon-is-buying-whole-foods-in-a-deal-valued-at-13-point-7-billion.html
by Sarah Whitten
Jeff Bezos speaking at the New York Economic Club luncheon in New York on Oct. 27, 2016. Amazon is buying Whole Foods in a deal valued at $13.7 billion 20 Mins Ago | 01:16 Just Watched... Amazon is buying Whole Foods in a deal valued at $13.7 billion.
Whole Foods' John Mackey will remain CEO of the grocery store chain after the deal closes, and the store will continue to operate under the Whole Foods brand.
Amazon's offer represents a 27 percent premium to Whole Foods' closing price on Thursday. The deal is expected to close in the second half year.
"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.
Whole Foods has been under pressure from Jana Partners hedge fund and money management firm Neuberger Berman, which have called on Whole Foods to sell itself. The investors have criticized Whole Foods for its poor performance, and have suggested the chain could be merged with another grocer.
Amazon has been pushing to expand its online grocery business.
(Excerpt) Read more at above link....
Applewood:
This should be interesting.
By the way, I'm a fan of both companies.
SirLinksALot:
Some people are claiming that this should not be allowed to push through citing Anti-Trust concerns.
catfish1957:
--- Quote from: Applewood on June 16, 2017, 01:42:33 pm ---This should be interesting.
By the way, I'm a fan of both companies.
--- End quote ---
Fan too, but with Amazon's rate of ascension, I feel they will be ruling retail at every angle within the next 10 years. (Pretty much the world) This just may be the first of many major Brick and Mortar forays.
A few months ago without thinking I asked a Walmart associate if they had any Amazon Gift Cards. Lady told me the that that is one word in the store no one was allowed to mention.
Frank Cannon:
"Alexa. Where is the nearest grocery store?"
"There is a Whole Foods 73 miles away."
Navigation
[0] Message Index
[#] Next page
Go to full version