Whole Foods Sought $45 Per Share Offer From Amazon

Amazon.com Inc. told Whole Foods Market Inc. it would not engage in a sale process for the U.S. grocer that involved other bidders, a regulatory filing showed on Friday, shedding new light on the $13.7 billion acquisition.

The previously undisclosed details on the negotiations show how Amazon used its deep pockets and brand as leverage to convince Whole Foods to accept a sale process that would not result in a bidding war.

Whole Food shares traded above Amazon’s $42-per-share deal price for the first few days after the agreement was announced on June 16, on investor expectations of a higher bid. They have since traded slightly below that price, as such hopes dampened.

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