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Amazon Getting Whole Foods For 13.7$ Billion

Whole Foods Market Store photo

Amazon has come out and said Friday that they are to be purchasing a food chain. The food chain is called Whole foods. The price that Whole Foods are to be acquired at is 13.7 Billion dollars.

Whole Foods (WFM) was apparently under pressure from one of their shareholders. It is said that the shareholder is Jana Partners. This is also part of a hedge fund for the company push for the search of a buyer for the company comes at a time where they've seen a decline in share value. The shares of the company were reportedly being traded around 33$ on Thursday and trading even halted on Friday on the news.

Amazon's stock also rose by three percent on Friday.

This deal is generating some controversy in the world of retailers and simply of people who're concerned with market domination. Amazon already holds is a strong portion of the market in the retail sector.

If this deal was to pass and actually get approved by Amazon's Shareholders it would mean that Amazon has now moved into another industry and even purchased the seventh largest food retailer in the United States.

A Democrat representing California in the House Of Representatives decided to call for a review of the situation by the Department of Justice and Federal Trade Commission.

Amazon has however, been trying to get into the grocery industry for a little while now. They created Amazon Fresh a delivery service that you can pay 14.99$ per month to get your groceries delivered.

It is being said Whole Foods will still operate under their own brand.

"This partnership presents an opportunity to maximize value for Whole Foods Market's shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience, and innovation to our customers," Said Whole Foods CEO John Mackey.

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