Amazon Is Buying Whole Foods For Almost $14 Billion

Amazon is buying Whole Foods in a deal valued at about $13.7 billion!

Amazon.com Inc. will pay $42 per share for Whole Foods Market Inc., including debt.

The deal comes a month after Whole Foods announced a board shake-up and cost-cutting plan amid falling sales.

The grocery chain, known for its organic options, had been facing increased pressure from rivals, including European grocery chain Lidl, which is planning to enter the East Coast market, along with Aldi and Trader Joe’s.

Amazon, meanwhile, has been expanding its reach in goods, services, and entertainment.

The deal is expected to close in the second half of 2017.

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