Amazon will pay $42 US a share or $13.7 billion in cash for Whole Foods’ shares, a 27 per cent premium to what Whole Foods was worth on Thursday.
Amazon’s own shares gained $23.54 US in reaction to the news on Friday to close at $987.71 US on Nasdaq.
Whole Foods shares closed at $42.68 US on Friday — just above the offer price, which suggests some investors think a better offer from someone else could be coming. The grocer must pay a $400 million US break fee if the deal falls apart.
The company recently rolled out a few locations of something called Amazon Go, which is essentially a small grocery store with no cashiers.
Justice Department lawyers say President Trump can accept hotel bills and office rent on his properties without violating the Constitution. Alex Altman and Andrew Rice discuss ethical concerns.
Continue reading Trump’s Businesses May Lead To His Undoing
The investigation into the Trump campaign’s ties to Russia is serious, but what’s imperiling Donald Trump’s presidency is, well, Donald Trump. Vox’s editor-in-chief Ezra Klein explains.
Continue reading Donald Trump is destroying his own presidency
In the first full month reflecting a new tax on foreign buyers, Toronto’s housing market is showing signs of cooling as new listings soar 49%. Bloomberg TV Canada talks to Robert Hogue, senior economist at RBC.
Jim McGovern, CEO of Arrow Capital Management, discusses Amazon on BNN. Continue reading Jim McGovern discusses Amazon
Fabrice Taylor of the President’s Club Investment Letter gives his outlook for shares of Cannabis Wheaton Income Corp. Continue reading Fabrice Taylor gives his outlook for shares of Cannabis Wheaton Income Corp
Canadian sushi restaurant chain Bento plans to go public and list its shares on the Toronto Stock Exchange.
Home Capital will hold its annual shareholder meeting on June 29. Jamie Sturgeon reports on what message they hope to convey to investors on Bloomberg Markets: Canada.
Continue reading Home Capital Moving Forward With ‘Significant Governance Renewal
Tesla will begin delivering its first solar roof tiles this summer at a price point that could expand the U.S. solar market. Bloomberg’s Tom Randall explains how the tiles work, how they’re priced and why Elon Musk sees them as part of a solar-powered trifecta.
Continue reading Tesla’s Solar Roof Is Cheaper Than Expected
Under federal law, even legal marijuana is illegal. John Oliver explains why conflicting drug laws pose serious problems.
Continue reading Marijuana: Last Week Tonight with John Oliver