Amazon to purchase Whole Foods for $13.7 billion

The e-commerce giant is buying the grocery store chain, which sent competitors’ stock plunging and caused many Twitter users to joke about the price of the investment.

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In a bombshell announcement, Amazon has announced its intention to buy Whole Foods for $13.7 billion.

The deal is expected to close later this year, with Amazon taking on Whole Foods’ debt and paying $42 per share. Whole Foods co-founder John Mackey will remain Whole Foods’ chief executive. Its headquarters will also stay in Austin, Texas, where it has called home since 1980.

The acquisition priced caused many Twitter users to make jokes:

I, too, spend $13.7 billion at Whole Foods.

— Slade Sohmer (@Slade) June 16, 2017

Amazon is paying $13.7 billion for Whole Foods Market or roughly the average shopping bill for a cart of groceries at Whole Foods. #Amazon

— Tommy Campbell (@MrTommyCampbell) June 16, 2017

Amazon went into Whole Foods for a sandwich and somehow spent 13.7 billion. Happens to the best of us it seems…

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