Consumer Reports Rates iPhone 8 Just Ahead of the iPhone X
Samsung continues to torment us with gorgeous flip phones we can't buy
Cyber Monday sets record sales
Amazon to acquire Whole Foods in $13.7 billion deal
17 Junio 2017, 03:58 | Benedicto Grullon
(NASDAQ:WFM) stock soared Friday after news broke that the organic grocer would be acquired by Amazon.com (NASDAQ:AMZN) for $42 per share, or $13.7 billion. That comes out to about $42 a share.
In a press release announcing the deal, Amazon CEO Jeff Bezos said, "Whole Foods Market has been satisfying, delighting and nourishing customers for almost four decades - they're doing an wonderful job and we want that to continue".
"Just heard that Amazon bought Whole Foods!" one commenter wrote on Whole Foods' Facebook page.
While Whole Foods' Canadian store count is relatively paltry in comparison to the big players, strategy advisor Mark Satov of Satov Consultants thinks it's inadvisable to sleep on the ambitions of Amazon Chief Executive Officer Jeff Bezos.
"[The supermarket industry] is glacially slow". In the last 65 years or so, the only really major change is products.
Speaking to that control, Barry C. Lynn, director of the Open Markets Program at New America, stated Friday that the "private corporation already dominates every corner of online commerce, and uses its power to set terms and prices for numerous most important products Americans buy or sell to one another".
But Amazon has been trying to conquer the grocery business for about a decade, with little to show for it. Amazon's biggest rival, Walmart, has built a thriving grocery business, while startup Instacart has partnered with conventional grocery stores to enable same-day delivery. But when you look at the size of the market there's still huge opportunity. The folks at Amazon are long-term thinkers. Amazon has completely revolutionized American retail, and they have been running this pilot project - Amazon supermarkets - that they've been testing with their own employees for the past year or so. Those standards are core to Whole Foods Market and we will remain committed to them.
Let's be clear: The main reason to do this deal is because Amazon has been struggling to crack the $800 billion grocery market in the US for going on a decade. Customers are charged for these products electronically as they take them off of the shelves.
High prices, of course, have been a problem for Whole Foods.
This handheld device could ultimately be used to purchase goods from your local Whole Foods.
Whole Foods' stock soared 27 percent.
Whole Foods has 13 Canadian locations, which are mostly in the Greater Toronto Area and B.C.'s Lower Mainland.
Brancaccio: Those activist investors could stand to gain with this bulletin here this morning, right? That may be one reason why Whole Foods was willing to sell to Amazon. And that results in bigger profits.
"When Amazon is serious, frankly, there is no limit to what they can do in terms of disrupting the space. essentially relegating everything that now exists in the business obsolete", said David Tawil, president of hedge fund Maglan Capital.
In the past few years, Amazon has been testing perishable grocery delivery to its Prime subcription members. Amazon might be able to sell low-priced groceries as it makes its money from its online marketplace, and do to big grocery stores what it's done to many other retailers.
Pokemon Stars To Be First Pokemon Game On Console?
Once again, the company opted for a prerecorded 30-minute Nintendo Direct stream, filled with announcements and gameplay footage. Everyone involved is expected to deliver a satisfying blend of what's just around the corner, and what's years down the road.
Nokia smartphones launched in India for Rs.9499 onwards
As expected and rumored , Nokia announced its first series of Android smartphones at Mobile World Congress (MWC ) this year. Nokia 3 will hit he stores starting June 16, while users will have to wait a little longer to get their hands on Nokia 5 .
CNN sues Justice Department for copies of Comey memos
Risch wrapped up his time asking Sessions if he heard any whispers during the campaign that would suggest Russian involvement. But the attorney general pushed back hard when asked what those problematic matters could be, retorting: "There are none".
Trump to tout apprenticeships as way to fill jobs gap
The idea is for students to work at paid internships while they go to school, sometimes with companies footing the bill. Filling millions more jobs through apprenticeships would require the government to massively ramp up its efforts.
Theresa May orders public inquiry into tower fire
If the Government believes any other tower blocks could be at risk, the mayor demanded residents be rehoused immediately. Megan Hession, of Kensington and Chelsea Council, said: "We had less than 10 who overnighted here".
Amazon to buy Whole Foods for $13.7 billion
In April, activist investor Jana Partners called the firm's shares undervalued, noting "chronic underperformance". Activist hedge fund Jana, led by Barry Rosenstein, disclosed a almost 9 percent stake in Whole Foods in April.
EU, UK fix date to begin Brexit negotiations
Without a so-called confidence and supply deal with the DUP , her party risks losing the vote next week on the Queen's Speech. Sinn Fein believes that it could win that referendum because of concerns in Northern Ireland about Brexit .