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Amazon is ready to deal the grocery chain Whole Foods for $13.4 billion in a bid to conquer new territory in supermarkets, amplifying the competition with Walmart.
For Whole Foods, the deal represents a chance to fend off pressure from activists investors frustrated by a sluggish stock price.
Whole Foods last month unveiled a sweeping overhaul of its board, replacing five directors, naming a new chairwoman and bringing in a new chief financial officer. It also laid out plans to improve operations and cut costs.
Amazon has already made an initial push through AmazonFresh, its grocery delivery service.
The e-commerce giant has been testing a variety of other retail concepts.
For Whole Foods, the deal represents a chance to fend off pressure from activists investors frustrated by a sluggish stock price.
Whole Foods last month unveiled a sweeping overhaul of its board, replacing five directors, naming a new chairwoman and bringing in a new chief financial officer. It also laid out plans to improve operations and cut costs.
Amazon has already made an initial push through AmazonFresh, its grocery delivery service.
The e-commerce giant has been testing a variety of other retail concepts.