Shareholders to Decide Fate of Amazon, Whole Foods Deal

Xavier Trudeau
Août 23, 2017

Whole Foods shareholders have agreed to Amazon's proposed $13.7bn of the chain, paving the way for the e-commerce giant to move into bricks-and-mortar groceries.

On Wednesday, Whole Foods shareholders are expected to vote on the deal, which would propel Amazon further into the grocery business than it has ever been.

Amazon has said it expects the deal, which still requires regulatory approval, to close by the end of the year.

While there is little known about Amazon's master plan for Whole Foods, there have been no arrangements for layoffs or to implement Amazon Go technology with the grocery stores. Amazon has begun building out its own retail footprint, with two AmazonFresh Pickup stores opening in Seattle, the first checkout-free Amazon Go and a growing complement of bookstores.

Whole Foods Market shares remained relatively unchanged Wednesday morning, climbing 0.07% to $41.74.

High-end grocer Wholefoods, which has 466 stores, will provide Amazon with a new opportunity in the grocery market, and the tie-up has put traditional grocers on edge.

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