The Whole Foods deal: Amazon closing on purchase Monday, cutting prices on some products

August 24, 2017

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Amazon will close its $13.7 billion buyout of Whole Foods Market Inc. on Monday and immediately plans to cut prices on grocery staples.

Whole Foods will offer lower prices on bananas, eggs, salmon, beef, and other products. Looking ahead, the news service reports, the Seattle company hopes to give Amazon Prime members special savings and other in-store benefits.

Also, certain Whole Foods products will be available through Amazon.com, AmazonFresh, Prime Pantry and Prime Now.

Whole Foods shareholders approved the deal Wednesday, and the Federal Trade Commission said it would not block the deal. Amazon will pay Whole Foods shareholders $42 per share, marking an 18% premium from its stock price the day before the tie-up was announced on June 16.

The Associated Press has the full story.