Walmart Not Pursuing Whole Foods Bid
BENTONVILLE, AR – As all eyes remain on the proposed Whole Foods buyout, the industry has remained abuzz with rumors of potential suitors looking to unseat Amazon with their bid. Walmart, one of the most high profile companies involved, is reportedly squashing the hopes of those leaning towards a Walmart/Whole Foods buyout. The retailer has reportedly denied the claims, according to Reuters.
Sources close to the matter disclosed to Reuters that Walmart is not actively considering bidding on Whole Foods. Another source asserted that Whole Foods has also not received any rival bids as of Friday. Both sources declined to unveil themselves, citing the confidentiality of the matter. Walmart was marked as a possible suitor based on its recent string of acquisitions.
Shockwaves were sent through our industry, and most others, as the news broke that Amazon had made a $13.7 billion offer on Whole Foods. Whole Foods accepted the bid.
Since the deal was announced, Whole Foods shares have been trading above Amazon’s offer price, sparking speculation by stock market analysts that a possibility of a higher bid may be in the works. Reuters noted that Whole Foods shares reached a high of $43.84 on Friday, and were last trading after hours at $42.85.
As of this time, Whole Foods, Amazon, and Walmart had not yet responded to Reuters for comment. CNBC noted that speculators have assessed if Whole Foods did receive another counter, Amazon would have responded with a sweeter bid.
Is another bidder still in the works as Amazon pursues its Whole Foods purchase? AndNowUKnow will have all the latest.