Dropping a bombshell on the U.S. grocery industry, online shopping giant Amazon.com Inc. said Friday it has agreed to buy Whole Foods Market Inc. for $13.7 billion in cash. The deal’s announcement instantly sparked a selloff in the stocks of other major U.S. supermarket and big-box chains on expectations that Amazon would bring its low-price expertise and technology prowess to bear with Whole Foods, putting further downward pressure on prices in the already hyper-competitive, $611-billion U.S. grocery industry. read more http://www.latimes.com/business/la-fi-amazon-whole-foods-20170616-story.html
