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The grand deal between Amazon and Whole Foods has been approved by the US authorities

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The grand deal between Amazon and Whole Foods has been approved by the US authorities
August 24
09:00 2017

It became known that the intention of Amazon.com, Inc. to purchase a supermarket chain Whole Foods Market had progressed to the implementation stage. The deal amounts to 13.7 billion US dollars. The authoritative magazine The Wall Street Journal has published the information that the US Federal Trade Commission gave the green light for the deal.

The material also reported that the FTC had considered it unnecessary to further study the forthcoming deal. This was insisted by some trade union organizations, but the commission felt that there was no basis for a more detailed verification.

According to the rules of the retailer of Whole Foods Markets, for the transaction it is necessary to obtain the consent of the company’s shareholders, which was received at an unscheduled meeting on Wednesday.

We recall that the principal decision on the transaction was reached just over two months ago. At the same time, the amount of the transaction was fixed. It totalled 13.7 billion US dollars.
The completion of the merger is planned for the second half of 2018. The supermarket chain will retain its own name; the central office will continue to be in Texas. Moreover, the chain should not expect global lustration: ordinary employees and the management in plenary, including its CEO- John Mackey, will remain in the game.

A very significant transaction will be the largest in the history of the company Amazon. Having completed it, the company will reduce its cash reserves more than half. We recall that about three months ago their volume was estimated at $ 21.5 billion.

The second participant of the transaction – the supermarket chain Whole Foods is the largest chain of stores with natural food at the moment. Whole Foods recruits 87,000 people. The chain has 470 supermarkets in two countries (the USA and Canada).

The material was prepared with the participation of Andrey Majorov,
a leading analyst of the brokerage company CT Trade

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