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Amazon-Whole Foods Deal Finalizes

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The Amazon-Whole Foods deal is official now, and so is its effect on the grocery business. The FTC has greenlit the $13.7 billion deal, and Whole Food's shareholders voted to let the acquisition go through. Meanwhile, the United Foods and Commercial Workers International Union filed a letter with the FTC saying the deal would create unfair competition "with nearly every grocery store in the nation," and it looks like investors agree with them. Grocery store stocks dropped an average of 4.04% on Thursday. The hardest hit, Kroger, lost about $1.6 billion of market value in just over an hour. http://markets.businessinsider.com/ne... http://www.wochit.com This video was produced by YT Wochit Business using http://wochit.com

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grocery store food Federal Trade Commission Amazon Whole Food Organic Food Grocery Store Trade Sales Economy
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