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Exclusive - Wal-Mart not considering a bid for Whole Foods: source

Published 23/06/2017, 21:02
© Reuters. Shopping carts are seen outside a new Wal-Mart Express store in Chicago
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(Reuters) - Wal-Mart Stores Inc (N:WMT) is not actively considering making an offer for Whole Foods Market Inc (O:WFM), a source familiar with the matter told Reuters on Friday.

Whole Foods, which has accepted a $13.7 billion (10.76 billion pounds) offer from Amazon.com Inc (O:AMZN), has not received any rival bids as of Friday, a second source said. Both sources spoke on condition of anonymity because the matter is confidential.

A Wal-Mart spokesman declined to comment on whether the company is considering a bid for Whole Foods. Whole Foods and Amazon did not immediately respond to requests for comment.

Whole Foods shares have been trading above Amazon's deal price of $42 since the deal was announced last Friday, as stock market investors speculate about the possibility of a higher offer.

© Reuters. Shopping carts are seen outside a new Wal-Mart Express store in Chicago

Wal-Mart has been tipped as a potential bidder for Whole Foods by retail analysts.

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