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Amazon to buy upmarket grocer Whole Foods for $13.7 billion


By Lauren Hirsch and Anya George TharakanREUTERS - Inc said on Friday it would buy U.S. organic supermarket chain Whole Foods Market Inc for $13.7 billion, including debt, marking the internet retailer's largest deal and biggest foray into the brick-and-mortar retail sector.The deal, which puts a 27 percent premium on Whole Foods' closing share price on Thursday, would could give the grocer a major competitive edge by allowing it to tap into Amazon's massive power to buy and sell goods at a lower cost.Whole Foods recently had come under pressure from activist hedge fund Jana ...

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First Published: Fri, June 16 2017. 19:49 IST