June 23, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Whole Foods Market, Inc. (NASDAQ:WFM), was announced concerning whether the takeover of Whole Foods Market, Inc. by Amazon for $42.00 per share is unfair to NASDAQ:WFM stockholders.

The investigation by a law firm concerns whether certain officers and directors of Whole Foods Market, Inc. breached their fiduciary duties owed to NASDAQ:WFM investors in connection with the proposed acquisition.

On June 16, 2017, Amazon (NASDAQ:AMZN) and Whole Foods Market, Inc. (NASDAQ:WFM) announced that they have entered into a merger agreement under which Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods Markets net debt.

However, given that at least one analyst has set the high target price for NASDAQ:WFM shares at $47.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:WFM stockholders. More specifically, the investigation concerns whether the Whole Foods Market Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Whole Foods Market, Inc. reported that its Total Revenue rose from over $15.38 billion for the 52 weeks period that ended on September 27, 2015 to over $15.72 billion for the 52 weeks period that ended on September 25, 2016.

Shares of Whole Foods Market, Inc. (NASDAQ:WFM) reached in early 2015 as high as $56.71 per share.