Whole Foods stock soars after being bought by Amazon (WFM, AMZN)
Amazon announced it is purchasing the high-end grocer for $13.7 billion.
Trading of Whole Foods shares was temporarily halted shortly after the announcement and the stock saw a huge bump once trading resumed.
Shares of Whole Foods are currently trading at around the offer price of $42, which puts the grocer up about 27.5% on its opening price.
The deal sent shares of Amazon higher as well. Shares of the acquiring company are up 1.38% to $988.67. Shares were temporarily trading above $1,000, a milestone the company only recently crossed.
Markets seem to like the deal, as Whole Foods' competitors are nearly all down. Walmart, Costco, Target, Kroger Dollar General and Supervalu are all down.
Wall Street is helping to fund the merger.
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