Amazon to Buy Whole Foods in $13.4 Billion Deal

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Amazon has designs on expanding beyond online retail into physical stores. The company is slowly building a fleet of outlets, and much attention has been focused on its grocery store dreams. It has already made an initial push through AmazonFresh, its grocery delivery service.

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The e-commerce giant has been testing a variety of other retail concepts. It has opened a convenience store that does not need cashiers, and has explored another grocery store concept that could serve walk-in customers and act as a hub for home deliveries.

Under the terms of the proposed deal, Amazon would pay $42 a share, a 27 percent premium to Thursday's closing price.

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