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Industry NewsWhole Foods shareholders approve Amazon deal

Whole Foods shareholders approve Amazon deal


Thursday, August 24, 2017

Whole Foods shareholders have given their blessing to the retailer’s US$13.7-billion union with Amazon.

Now that shareholders have approved the deal, the two companies must next get the go-ahead from government regulators, the Chicago Tribune reports. Seattle-based Inc. has said it expects the deal to close before the end of the year.

Whole Foods had been under intense shareholder pressure to improve results and retain customers who increasingly have more choices as to where they buy natural foods, the news report says. Amazon announced plans to buy Austin, Texas-based Whole Foods Market Inc. in June. The takeover would give the e-commerce giant more than 460 Whole Foods stores and the possibility of making big changes to the supermarket industry.

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