>> A blockbuster deal. Amazon Friday moving to buy upscale supermarket Whole Foods for $13.7 billion. The world's largest retailer has already transformed the way consumers purchase goods worldwide, shifting from brick-and-mortar stores to virtual warehouses. Now apparently, setting its very powerful gaze on how Americans buy food. Shares in U.S. supermarkets tumbling in early trade after the announcement, but Amazon shares jumped around 2% in the first few minutes of trading.
The deal is likely to cheer agitated investors concerned with Whole Foods prospects and management team. The grocers will continue to operate stores under the Whole Foods market brand the company said. John Mackey will continue as Chief Executive of Whole Foods. And the company's headquarters will remain Austin, Texas.
The two companies expect to close the deal during the second half of 2017.