71
Fashion Jobs
L'OREAL GROUP
E-Commerce Key Account Manager
Permanent · JOHANNESBURG
L'OREAL GROUP
Multi-Brand Education Manager
Permanent · JOHANNESBURG
L'OREAL GROUP
E-Commerce Manager
Permanent · JOHANNESBURG
BEIERSDORF
Brand Manager
Permanent · DURBAN
G-STAR
Key Account Manager
Permanent · CAPE TOWN
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
PUMA
Payroll Administrator
Permanent · CAPE TOWN
ADIDAS
Senior Manager Sales: Shoe Channel - em South
Permanent · CAPE TOWN
ADIDAS
Senior HR Business Partner (6-Months Maternity Cover)
Permanent · CAPE TOWN
L'OREAL GROUP
Product Manager
Permanent · JOHANNESBURG
TREK
Country Manager
Permanent · SANDTON
ADIDAS
ic pp Data & Analytics Specialist - em
Permanent · CAPE TOWN
BEIERSDORF
Precision Marketing & Audience Specialist
Permanent · DURBAN
CLINIQUE
Clinique - Roamer - Edgars Eastgate, Gauteng - 40 Hours - Full-Time - Permanent
Permanent · JOHANNESBURG
PANDORA
Sales Assistant Ppt 96 Hours Balito
Permanent · DURBAN
L'OREAL GROUP
Data Analyst
Permanent · JOHANNESBURG
HTNK
High-End Fashion/Denim Designer
Permanent · JOHANNESBURG
H&M
Talent Acquisition Specialist
Permanent · CAPE TOWN
ADIDAS
Specialist Franchise Excellence - Ems Africa Export
Permanent · CAPE TOWN
LOVISA
Full Time Team Member | v&a Waterfront, Cape Town
Permanent · CAPE TOWN
LOVISA
Store Manager | v&a Waterfront, Cape Town
Permanent · CAPE TOWN
By
Reuters API
Published
Jun 19, 2017
Reading time
2 minutes
Download
Download the article
Print
Text size

Whole Food shares keep rising, leading to bidding war speculation

By
Reuters API
Published
Jun 19, 2017

Whole Foods Market Inc shares rose on Monday for the second straight trading session after Amazon.com Inc announced plans to buy the upscale grocer, with investors appearing to bet that rivals could step in to create a bidding war.


Whole Foods



Despite that possibility, Amazon shares also gained as Wall Street analysts lauded the proposed $42-per-share deal and bet that the company would prevail in any bidding battle.

After closing at $42.68 on Friday, Whole Foods shares were up 1.5 percent at $43.32 on Monday morning after rising as high as $43.64 earlier in the session, suggesting hopes it would end up fetching a higher price. Amazon hit a high of $1,017 and was last up 1.4 percent at $1,001.13.

Barclays analyst Karen Short raised her Whole Foods price target to $48 from $38 and upgraded the stock to overweight from equal-weight, citing the possibility of counterbids.

"Many will do anything to either make this acquisition more costly for Amazon, or prevent the asset from landing in Amazon's lap," Short wrote in a note to clients.

A $48-a-share price tag would be more than reasonable for a fellow retailer that could eliminate overhead at Whole Foods, Short said, while adding that very few companies could outbid Amazon.

Benchmark Research analyst Daniel Kurnos also expects a bidding war, but he said: "Amazon will ultimately be able to outbid any other party by a meaningful amount, given the valuation gap between them and WFM."

Wedbush analyst Michael Pachter said the deal was a "healthy option to accelerate growth" at Amazon as it could use Whole Foods supermarkets as distribution centres for its online grocery service and to sell its own branded devices, such as Kindle e-readers.

Pachter said Amazon was likely to increase spending to build its online grocery business over the next several years, so the acquisition would add only slightly to earnings while boosting revenue significantly.

 

© Thomson Reuters 2024 All rights reserved.