June 16, 2017 / 10:22 PM / 6 months ago

Business Watch: Amazon's blockbuster deal

E-commerce behemoth and the world’s largest retailer Amazon extended its reach into the real world stores by acquiring upscale grocer Whole Foods for a whopping $13.7 billion.

Vegetables for sale are pictured inside a Whole Foods Market in the Manhattan borough of New York City, New York, U.S. June 16, 2017. REUTERS/Carlo Allegri

Here’s all you need to know about the deal:

The move had a ripple effect on many food and retail stocks - shares of Target took an especially hard beating.

Here’s a list of stocks battered by the deal.

Amazon CEO Jeff Bezos isn’t quite the king of the world, but he might be soon.

Interesting back story: A hedge fund that Whole Foods CEO has called ‘greedy bastards’ in a recent interview with Texas Monthly is set to pocket some $300 million from supermarket’s sale. Read the whole story here.

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