Amazon’s Whole Foods Deal Gains Clearance From Shareholders, FTCAugust 24, 2017
Amazon’s pending $13.7 billion acquisition of Whole Foods has been approved by both Whole Foods shareholders and the Federal Trade Commission, and is on track to close before the end of the year. Originally announced in June, the deal will see Amazon markedly expand its brick-and-mortar presence across the U.S., and also gain footholds in Canada and the U.K. Whole Foods operates about 460 stores across those three markets. The acquisition will allow Amazon to rapidly scale up its presence in both groceries and beverage alcohol, further intensifying the already competitive environment for national brick-and-mortar retailers like Kroger, Walmart, Target and others. —Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.