Amazon to buy Whole Foods as its grocery story revolution continues

Amazon's increasingly overt and aggressive push into the grocery retail market has officially gone into full-blown, alarm-blaring fever-pitch mode today as its plans to acquire the brick-and-mortar chain Whole Foods was publicly announced. Under the terms of the tentative deal, Amazon will pay $42 per share of Whole Foods stock for a total purchase price of $13.7 billion. At the end of trading yesterday, Whole Foods was going for around $33 per share, making Amazon's offer represent a reasonable 27 percent premium. The news has sent shockwaves throughout all affected industries: financial analysts, other grocery store executives, and emerging players… [Continue Reading]