US online giant Amazon, which shares are traded on Nasdaq, announced its acquisition of organic-food chain Whole Foods Market Inc. for $13.7 billion.
The Jeff Bezos-led company agreed to pay $42 a share in cash for Whole Foods. The deal is Amazon's biggest acquisition so far. As of the end of March 2017, Amazon had about $21.5 billion in cash and equivalents.
Whole Foods is the largest US supermarket chain specializing in organic food.
The announcement made Amazon and Whole Foods’ shares jump in price and increased Bezos’ wealth by $1.8 billion, bringing his overall net worth to $84.6 billion.
