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Amazon to buy Whole Foods for $13.7bn Amazon to buy Whole Foods for $13.7bn
(35 minutes later)
Amazon to buy Whole Foods, upmarket food retailer, in deal worth $13.7bn (£10.7bn) Amazon, the world's biggest online retailer, is buying Whole Foods in a $13.7bn (£10.7bn) deal that marks its biggest push into traditional bricks-and-mortar retailing yet.
This breaking news story is being updated and more details will be published shortly. Please refresh the page for the fullest version. Amazon, which has been experimenting with grocery offerings, will buy the upscale supermarket for $42 a share.
If you want to receive Breaking News alerts via email, or on a smartphone or tablet via the BBC News App then details on how to do so are available on this help page. You can also follow @BBCBreaking on Twitter to get the latest alerts. The price is 27% higher than the level Whole Foods' shares closed on Thursday.
The takeover deal is expected to be completed in the second half of the year.
Amazon founder and chief executive Jeff Bezos said: "Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy.
"Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades - they're doing an amazing job and we want that to continue."
Whole Foods boss John Mackey said: "This partnership presents an opportunity to maximize value for Whole Foods Market's shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers."
Mr Mackey is expected to stay on as chief executive.