Walmart Not Interested In Acquiring Whole Foods

Walmart is not considering making an offer for Whole Foods Market, according to Reuters.

Some analysts speculated that Walmart could potentially make a counter bid for the grocery chain. But Whole Foods, which accepted a $13.7 billion offer from Amazon, has not received news of any rival bids as of last Friday.

Whole Foods shares have been trading above Amazon’s $42 bid since the deal was announced, and stock market investors have speculated about the possibility of a higher offer. Shares of Whole Foods and Walmart both remained unchanged in aftermarket trading Friday.

JAB Holdings was also flagged as a potential bidder for the Whole Foods acquisition by retail analysts, as it has been shifting its focus to restaurants and food and beverage businesses. JAB recently announced it would purchase Panera Bread in a deal valued at about $7.5 billion.

However, even if another company were to come in with a rival bid, many speculate that Amazon’s deep pockets would allow it to counter any offer for the Whole Foods acquisition with a higher amount.