- Deal allows outspoken Whole Foods co-founder to remain CEO
- Activist investor Jana Partners has pushed grocer to seek deal
Amazon will pay $42 a share in cash for the organic-food chain, the companies said on Friday. John Mackey, Whole Foods’ outspoken co-founder and chief executive officer, will continue to run the business.
The deal sends a shockwave across both the online and brick-and-mortar industries, uniting two brands that weren’t seen as obvious partners. But Whole Foods came under pressure to find a buyer this year after activist investor Jana Partners LLC acquired a stake and began pushing for a deal. Jana’s move irked Mackey, who has referred to…