Retail Giant Amazon Plans to Buy Whole Foods for $13.7 Billion
- Author: Zachary Reyes Jun 25, 2017,
Jun 25, 2017, 23:26
Despite that possibility, Amazon shares also gained as Wall Street analysts lauded the proposed $42-per-share deal and bet that the company would prevail in any bidding battle.
"Mutual friends set us up on a blind date", he said in the transcript, which was released by Whole Foods on Monday.
Wal-Mart Stores Inc could have sufficiently deep pockets to make a counter bid and other grocery rivals such as Kroger or Albertsons Cos Inc would have the motivation, he said.
Concerned Whole Foods shareholders who would like more information about their rights and potential remedies, including those who believe that the proposed transaction is unfair as to price or terms, may contact attorneys Amber Eck or Kathleen Herkenhoff at 619-342-8000, email@example.com or firstname.lastname@example.org.
"Over time, there could be other formats that evolve that- that might- wouldn't be branded Whole Foods Market, potentially, wouldn't be our standards", Mackey explained. "And she said, 'That's insane.'" Mackey said, drawing guffaws from employees at a town hall meeting on Friday.
An Amazon spokesman denied that job cuts are in the works for Whole Foods. Amazon's Worldwide Consumer chief, Jeff Wilke, said at the town hall that Whole Foods' healthier options helped change how people think about food. Amazon is buying Whole Foods in a stunning move that gives it hundreds of stores across the U.S., a brand-new laboratory for radical retail experiments that could revolutionise the way people buy groceries.
Despite a recent sales slump, Whole Foods still has a passionate following among foodie shoppers. That is: How will the high-priced specialty and organic grocer's model fit in with Amazon's generally low-price focus and desire to be the "everything store"? More seriously, he said it was too early to discuss these kinds of details, but highlighted that one of Amazon's core values take Whole Foods is likely to embrace is frugality. It remains to be seen what Amazon's growth plans will be for Whole Foods. They really are. And one of my takeaways is that, by God, we're gonna become as customer-centric as Amazon.
Wedbush argued that Grubhub would be a nice compliment to Whole Foods because the food ordering company has a similar geographic overlap and similar customer and diner demographics.
They add that the merger is probably even better news for Amazon Prime and Fresh customers, who usually get Amazon's best deals.