The online giant is buying the high-end grocer for $42 a share, valuing the company at $13.7 billion. Shares of the grocer were trading at $33.06 a share before the deal was announced, so the deal represents a 27% premium on its closing price yesterday.
"Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy," Amazon CEO Jeff Bezos said in a press release. " Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades – they’re doing an amazing job and we want that to continue."
In October, reports surfaced that Amazon was planning to build its own grocery stores. The company has built other physical retail locations for books.
Source: Business Insider
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