Amazon is buying Whole Foods for $13.7 billion

Amazon is buying Whole Foods for $13.7 billion

He expects the retailer to keep the Whole Foods stores open and eventually even make grocery deliveries via drone. It announced Friday that it's buying online men's clothing retailer Bonobos for $310 million, following a string of online acquisitions including ModCloth and Moosejaw.

He sells hunting gear online and says Amazon pushes businesses to slash prices, so he's not making enough money to grow his company.

The July crude contract was up 20 cents at $44.66 per barrel and the July natural gas contract was down one cent at $3.04 per mmBTU.

Also, despite Amazon's existing interest in grocery, the Amazon-Whole Foods deal could be considered a vertical integration rather than horizontal, which the e-commerce supply chain logistics serving as a middle step between food producers and Whole Foods the seller.

Whole Foods, which was founded in 1978 in Austin, Tex., is best known for its organic foods.

Several workers expressed relief and happiness about the planned sale, which came as Whole Foods faced pressure from hedge fund investor Jana Partners to improve results.

Groceries are already a fiercely competitive business, with low-priced rivals like Aldi putting pressure on traditional supermarket chains and another discounter, Lidl, opening its first US stores just this week. Whole Foods last month unveiled a sweeping overhaul of its board, replacing five directors, naming a new chairwoman and bringing in a new chief financial officer.

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Not anymore. In one fell swoop, Amazon founder Jeff Bezos has bought his way into the supermarket business with the $13.7 billion acquisition of Whole Foods.

Amazon is considering extending the cost-cutting effort with the no-checkout technology it's developing at its Seattle convenience store, "AmazonGo", according to the person familiar with the matter, who asked not to be named because the plans are private.

Defense contractor Booz Allen Hamilton tumbled after it said the Department of Justice is investigating its accounting practices and the way it charges the USA government.

As president, Trump could steer the FTC to investigate the company for severely reducing competition rather than the consumer impact, although he has said nothing on the matter since.

But Whole Foods customers are loyal, and some shoppers are excited about Amazon's purchase. Pacad Investment Ltd. purchased a new position in shares of Whole Foods Market during the fourth quarter worth approximately $163,000.

"In a Fox News interview previous year, then-presidential candidate Donald Trump said "[Jeff Bezos has] got a huge antitrust problem because he's controlling so much. After the deal was announced Friday, it raised its target price for Whole Foods to $45 from $40. Or someone who buys granola bars monthly from Whole Foods and paper towels every other week from Amazon might be offered the items in a single shipment, delivered to the door. Certainly, it would appear to Cantillon that Bezos sees the future as slightly more nuanced than the vista of couch-bound online shoppers ordering everything from fast food to films online. All of a sudden, that patent approval seems a lot more ominous, given that this move gives the online retail giant immediate brick-and-mortar access to a certain type of consumer with disposable income.

There are clearly mixed views on what Amazon intends to do with Whole Foods.

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