Amazon to Buy Whole Foods for $13.4 Billion

Amazon to Buy Whole Foods for $13.4 Billion

Amazon agreed to buy the upscale grocery chain Whole Foods for $13.4 billion, in a deal that will instantly transform the company that pioneered online shopping into a merchant with physical outposts in hundreds of neighborhoods across the country.

Key findings

The purchase represents an escalation of the long-running battle with Walmart.

Amazon hopes to increase share in the grocery market after customers continue to resist buying vegetables and meats from their site.

Amazon looks to reduce prices at Whole Foods locations for Prime members to make shopping there more affordable.

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