Amazon is buying Whole Foods in $13.7B deal

Whole Foods is cutting jobs.
Whole Foods is cutting jobs.

NEW YORK (AP) – Online juggernaut Amazon is buying Whole Foods in a deal valued at about $13.7 billion, including debt.

Amazon.com Inc. will pay $42 per share for Whole Foods Market Inc. That marks an 18 percent premium to Whole Foods closing price on Thursday.

The deal comes a month after Whole Foods announced a board shake-up and cost-cutting plan amid falling sales. The grocery store operator was also under pressure from activist investor Jana Partners.

The deal is targeted to close in the second half of the year.

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