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Amazon to close on Whole Foods buyout Monday

FILE - This Monday, Aug. 7, 2017, file photo shows an Amazon sign at a store in Hialeah, Fla. Whole Foods shareholders voted Wednesday, Aug. 23, 2017, to bless a $13.7 billion union with Amazon that the organic grocery chain's CEO had called "love at first sight." By buying Whole Foods, Amazon will get more than 460 stores and potentially very lucrative data about how shoppers behave offline. (AP Photo/Alan Diaz, File)
FILE - This Monday, Aug. 7, 2017, file photo shows an Amazon sign at a store in Hialeah, Fla. Whole Foods shareholders voted Wednesday, Aug. 23, 2017, to bless a $13.7 billion union with Amazon that the organic grocery chain's CEO had called "love at first sight." By buying Whole Foods, Amazon will get more than 460 stores and potentially very lucrative data about how shoppers behave offline. (AP Photo/Alan Diaz, File)

By Associated Press 2 min read

NEW YORK (AP) – Amazon will close its $13.7 billion buyout of Whole Foods Market Inc. on Monday and plans to cut prices on grocery staples.

Starting Monday, Whole Foods will offer lower prices on bananas, eggs, salmon, beef, and other products. Looking ahead, the Seattle company hopes to give Amazon Prime members special savings and other in-store benefits.

Also, certain Whole Foods products will be available through Amazon.com, AmazonFresh, Prime Pantry and Prime Now.

Whole Foods shareholders approved the deal Wednesday, and the Federal Trade Commission said it would not block the deal. Amazon will pay Whole Foods shareholders $42 per share, marking an 18 percent premium from its stock price the day before the tie-up was announced on June 16.

Earlier this month, Amazon.com Inc. sold $16 billion of bonds in order to pay for the purchase.