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Amazon to Acquire Whole Foods for $13.7 Billion

  • Deal allows outspoken Whole Foods co-founder to remain CEO
  • Activist investor Jana Partners has pushed grocer to seek deal
Bloomberg business news

Amazon Makes Brick and Mortar Play on Groceries

Updated on Inc. will acquire Whole Foods Market Inc. for $13.7 billion, a bombshell of a deal that catapults the e-commerce giant into hundreds of physical stores and fulfills a long-held goal of selling more groceries.

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 close. John Mackey, Whole Foods’ outspoken co-founder, will continue to run the business -- a victory after a fight with activist investor Jana Partners that threatened to drive him from power.