Upcoming Issue Highlights

Amazon to Acquire Whole Foods for $13.7 Billion

AIDP

According to Bloomberg, Amazon.com Inc. (Washington) will acquire Whole Foods Market Inc. (Texas) for $13.7 billion, a deal that catapults the e-commerce giant into the supermarket business with hundreds of stores across the U.S.

Amazon agreed to pay $42 a share in cash for the organic-food chain, including debt, a roughly 27 percent premium to the stock price at Thursday’s (June 15) close. John Mackey, Whole Foods’ co-founder, will continue to run the business — providing a lifeline to the  executive after a fight with activist investor Jana Partners (New York).