Deals
As Jana Circled, Whole Foods CEO Mackey Sought Amazon Lifeline
- Mackey and Bezos initially met to discuss deal on April 30
- Albertsons was also said to express interest in a deal
Whole Foods Had PE Interest Before Amazon Offer
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Whole Foods Markets Inc. CEO John Mackey was facing the worst crisis in his company’s history. On April 10, activist hedge fund Jana Partners had announced an 8 percent stake and was agitating for an overhaul of the struggling grocery chain, potentially including a sale.
That’s when Mackey recalled reading a report that Amazon.com Inc. had considered trying to buy Whole Foods. A few days earlier, Bloomberg News reported that the e-commerce giant had mulled a bid last fall to help accelerate its push into the grocery business but didn’t pursue a deal. That gave Mackey just the lifeline he needed.