What strategic move is Amazon making by acquiring Whole Foods according to the text?
Amazon Buying Whole Foods in $13.7 Billion Deal
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Business, Information Technology (IT), Architecture
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Amazon announced its acquisition of Whole Foods for $42 per share, a 27% premium over the previous closing price. This move marks Amazon's significant entry into the grocery market, challenging competitors like Walmart. The acquisition is seen as a strategic push into high-end grocery retail, with Whole Foods CEO John Mackey remaining in his position. The market reacted with halted trading and speculations about the impact on other grocery retailers.
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How did the market react to the news of Amazon's acquisition of Whole Foods?
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