Whole Foods Market, the iconic Austin-based grocery company that offers natural and organic foods, has agreed to be acquired by retailing powerhouse Amazon for about $13.7 billion in cash. Wachtell, Lipton, Rosen & Katz represents Whole Foods Market in the large transaction, while Seattle-based Amazon turned to Sullivan & Cromwell.
On Friday morning, Amazon and Whole Foods Market announced a definitive merger agreement calling for Amazon to acquire Whole Foods Market for $42 per share in the all-cash transaction that includes Whole Food’s net debt. The combination will give Amazon a big player in the grocery business, while Amazon will provide technology and online selling expertise to Whole Foods Market.
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