Amazon is buying Whole Foods for$13.7 billion
Amazon(AMZN)is buying Whole Foods(WFM)for$13.7 billion,the companies announced on Friday.
In a statement Friday morning,the onlineretailer said it would buy the high-end grocer for$42 per share,more than the$33.06 per share Whole Foods closed at on Thursday.The deal is Amazon’s biggest deal ever,topping the$1.2 billion the company paid for online footwear retailer Zapposin 2009.
In pre-market trading on Friday,Amazonshares were up slightly,rising about 0.9%.Whole Foods shares were halted fortrade shortly after 9:00 a.m.ET.
Amazon CEO Jeff Bezos said, “Millions ofpeople love Whole Foods Market because they offer the best natural and organicfoods,and they make it fun to eat healthy. "Whole Foods Market has been satisfying,delighting and nourishingcustomers for nearly four decades— they’re doing an amazing job and we wantthat to continue."
John Mackey,the CEO of Whole Foods,willremain CEO of the company and its headquarters will remain in Austin,Texas.The companies expect the deal to close in the second half of this year.