Jana Partners Sells Whole Foods Stock for $1.1 Billion
AUSTIN, TX - According to a regulatory filing posted Wednesday, activist investor Jana Partners has sold its stake in Whole Foods for combined proceeds of $1.1 billion, resulting in a profit of about $300 million.
Bloomberg Markets reported that the provocative investor—who promised to shake up Whole Foods after grabbing an almost 9% stake of the company in April, sparking charged responses from Whole Foods CEO John Mackey—began scaling back its hold in May, and offloaded the last of its Whole Foods stock this week.
The report suggests that upon Jana’s initial investment in the company, Mackey may have reached out to Amazon.com Inc in search of a friendly buyer resulting in a $13.7 billion deal announced June 16. News of the agreement sent the retail grocery landscape and associated stock market on a wild ride, with details available in our previous coverage.
As the retail grocery landscape continues to evolve, AndNowUKnow will continue to report.
