A PYMNTS Company

US: Whole Foods shareholders approve US$13.7B acquisition by Amazon

By  |  August 23, 2017

Whole Foods shareholders have at last voted to advance Amazon’s acquisition of the grocery chain, moving the proposal one step closer to reality.

Gathered at Whole Food’s headquarters in Austin, Texas, the retailer’s shareholders approved a merger with the internet giant on the morning of August 23. Amazon shareholders don’t need to sign off on the deal.

Now, completion of the transaction is subject to regulatory approvals and other customary closing conditions. Whole Foods and Amazon are preparing to seal their US$13.7 billion deal, which would also mark the biggest retail merger of 2017.

The parties expect to finalize the merger during the second half of 2017. Though, a source familiar with the matter has told CNBC the deal could happen sooner rather than later.

Full Content: BBC

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.