WalMart could enter a bidding war with Amazon over Whole Foods, J.P. Morgan says Wal-Mart could enter a bidding war with Amazon over Whole Foods, J.P. Morgan says
WalMart could step in as a rival bidder for Whole Foods Market, J.P. Morgan analysts said, as shares of the grocery chain rose above the $42 price offered by Amazon earlier this month.
J.P. Morgan research analysts said in a note Thursday that WalMart could be drawn to Whole Foods for its relatively wealthier customers and strong brand, not to mention the chance to thwart Amazon's ambitions. It is in a better position than other retailers such as Kroger, Costco or Target coming in over the top, the analysts said.
"We do think there is a chance that Walmart makes a bid," the report said. "WMT stands out as the only company in our coverage with the means and motive to counterbid, but the motive is ultimately more driven by a defensive strategy."
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