Author Topic: Amazon Buys Whole Foods  (Read 376 times)

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uncleleroy

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Amazon Buys Whole Foods
« on: June 16, 2017, 11:03:36 AM »
Amazon (AMZN) is buying Whole Foods (WFM) for $13.7 billion, the companies announced on Friday.

In a statement Friday morning, the online retailer 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 Zappos in 2009.

After the announcement, Whole Foods shares were up 27% to trade at $41.99 per share. Amazon shares were up 3.4% in early trade on Friday to trade at around $996 per share.

Amazon CEO Jeff Bezos said, “Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy.

“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.”

John Mackey, the CEO of Whole Foods, will remain 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.



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Re: Amazon Buys Whole Foods
« Reply #1 on: June 16, 2017, 09:19:31 PM »
I saw this earlier today on Twitter:
Bezos: Alexa  buy me some Whole Foods
Alexa: Bought Whole Foods
Bezos: Whaaaaa...ok.

<smile>

The Best Tweets About Whole Foods’ Mega Merger With Amazon

uncleleroy

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Re: Amazon Buys Whole Foods
« Reply #2 on: June 20, 2017, 02:57:46 PM »
Ha. That was good!

I can't figure out what the DOJ and regulators will eventually conclude, but there is already a lot of voiced concern over the result of the acquisition should it go through. Can't say I'm happy about the acquisition as it will probably lead to a lot of job losses within the grocery industry. They're already looking to cut unprofitable stores. Would hate to see more stores than necessary close if Bezos gets Whole Foods.

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Re: Amazon Buys Whole Foods
« Reply #3 on: Yesterday at 12:06:34 PM »
I was going thru my cached history to find a particular article and I can't find it...dangitall!

What I read in the one article is that Amazon proposes to use the fresh delivery with their within an hour delivery market.
The delivery within an hour market would be helpful for 'pushing' the newish market for the Amazon Wand.

If this is the way it is to be used, then I can only hope that jobs aren't lost.
Stores might be rebranded with Amazon name but employees would stay.



  

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