While the announcement had many analysts speculating that Amazon would dominate grocery sales both online and off, that has yet to be seen.
The deal is expected to close in the second half year. John Mackey, a vegan, co-founded Whole Foods in 1980 He sold the company to Amazon for $13.7 billion in 2017, months after an activist investor pushed for changes Mackey in …
This month is the two-year anniversary since Amazon.com Inc. announced it would acquire grocery store chain Whole Foods Market for $13.7 billion. The Amazon-Whole Foods merger allows Amazon to get into brick-and-mortar stores and expand its grocery business. 16, 2017-- Amazon (NASDAQ:AMZN) and Whole Foods Market, Inc. (NASDAQ:WFM) today announced that they have entered into a definitive merger agreement under which Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods Market’s net debt. Amazon, however, initially faced antitrust issues because it is nearing monopoly status. The day that Amazon and Whole Foods announced their $13.7 billion merger that shook the grocery industry, a giddy John Mackey couldn't hide his enthusiasm.
SEATTLE & AUSTIN, Texas--(BUSINESS WIRE)--Aug. 24, 2017-- (NASDAQ:AMZN)—Amazon and Whole Foods Market today announced that Amazon’s acquisition of Whole Foods Market will close on Monday August 28, 2017, and the two companies will together pursue the vision of making Whole Foods Market’s high-quality, natural and organic food affordable for everyone. SEATTLE & AUSTIN, Texas--(BUSINESS WIRE)--Jun. And over these two years, changes have been made to Whole Foods, at … To help better understand this acquisition and why allowing the merger to pass was the correct … Amazon to acquire Whole Foods for $42 a share, in a deal valued at $13.7 billion.
Whole Foods Market ranked #28 and Amazon ranked #2 on Fortune’s 2017 list of World’s Most Admired Companies. The …
John Mackey will remain CEO of the grocery store chain.
Nonetheless, the deal was ultimately passed by the Federal Trade Commission (FTC). It has been two years since Amazon acquired Whole Foods for $13.7 billion in cash.
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