NEW YORK (TIP): Amazon.com Inc said on June 17 (Friday) it would buy US organic supermarket chain Whole Foods Market Inc for $13.7 billion, including debt, marking the internet retailer’s largest deal and biggest foray into the brick-and-mortar retail sector.

The deal, which puts a 27% premium on Whole Foods’ closing share price on Thursday, could give the grocer a major competitive edge by allowing it to tap into Amazon’s massive power to buy and sell goods at a lower cost.

Source: Reuters