TECH

Activist Jana cashes out of Whole Foods following Amazon deal

Customers leaving the Whole Foods Market in Boulder, Colorado, United States, in May. — Reuters

Activist investor Jana Partners LLC cashed out of its position in Whole Foods Market Inc, a regulatory filing showed on July 19, after the upscale grocer agreed to be acquired by Amazon.com Inc in a US$13.7bil (RM58.78bil) deal last month.

Jana, which was Whole Foods' second-largest shareholder with an 8.2% stake, made a profit of over US$300mil (RM1.29bil) on the sale, according to Reuters calculations.

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