Amazon (AMZN 1006.09, +2.35, +0.2%) is going to acquire Whole Foods Market (WFM 42.67, -0.28, -0.7%) for $42.00 per share in cash or approximately $13.7 billion. That's the plan anyway, yet there has been speculative chatter in the market since that deal was announced on June 16 that another company might check in with a rival bid.
The inkling of such a notion has been provided by the stock price of WFM, which has been trading above Amazon's offer price.
Shares of WFM hit an intraday high of 43.84 on Friday, yet they have come in some since then following reporting by Reuters that suggests Walmart isn't considering a bid for Whole Foods. Walmart (WMT 75.36, +0.52, +0.7%) and Kroger (KR 22.60, unch) have been in the conversation as possible rival bidders since the aforementioned deal was announced.
A source Reuters spoke to said Walmart is not actively considering making an offer for Whole Foods; moreover, a second source, Reuters said, noted that Whole Foods has not received any rival offers as of Friday.
The news reported by Reuters broke late Friday and contributed to a closing slide in WFM that has persisted this morning.
WFM shares are moving back toward Amazon's offer price instead of away from it, suggesting some of the speculative fever about a rival bid being made has cooled down. It's possible that another company could still step forward with a higher offer, but clearly the reporting by Reuters has tempered investors' enthusiasm for such a possibility.