Whole Foods Market (WFM) announced Friday morning that it has agreed to be acquired by Amazon.com (AMZN) for $42 per share in an all-cash transaction valued at approximately $13.7 billion. The transaction is expected to close during the second half of 2017.
Whole Foods Market gapped open dramatically higher Friday and advanced further in the early afternoon. The stock closed up by 9.62 at $42.68 on the highest volume of the year. Whole Foods Market soared to a new high for the year.
Amazon also gapped open sharply higher Friday, but was range-bound for the majority of the session. The stock finished higher by 23.54 at $987.71 on the highest volume in 7 months.
by RTT Staff Writer
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