Amazon closing on $13.7 billion buyout of Whole Foods Monday - WDRB 41 Louisville News

Amazon closing on $13.7 billion buyout of Whole Foods Monday

Posted: Updated:

NEW YORK (AP) -- Amazon will close its $13.7 billion buyout of Whole Foods Market Inc. on Monday and plans to cut prices on grocery staples.

Starting Monday, Whole Foods will offer lower prices on staples including bananas, eggs, salmon, beef, and other products. Looking ahead, the Seattle company hopes to give Amazon Prime members special savings and other in-store benefits.

Also, certain Whole Foods products will be available through Amazon.com, AmazonFresh, Prime Pantry and Prime Now.

Whole Foods shareholders approved the deal Wednesday, and the Federal Trade Commission said it would not block the deal. Amazon.com Inc. will pay Whole Foods shareholders $42 per share, marking an 18 percent premium from its stock price the day before the tie-up was announced on June 16.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly
All content © Copyright 2000 - 2018 WDRB. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.