Amazon.com (AMZN) didn't originally want to pay the $42 per share it agreed to with Whole Foods Market (WFM) in its $13.7 billion deal announced last month, an SEC proxy statement released Friday showed.
Months of back and forth led to an initial Amazon offer of $41 per share. Whole Foods countered with a $45 price tag per share, an offer Goldman Sachs (GS) called "a disappointment" as Amazon's banker for the deal.
After Whole Foods countered, Goldman told them Amazon was "considering other opportunities instead of acquiring" the high-end grocery chain. But in a final bid, Amazon offered $42 per share as its "best and final offer." Whole Foods accepted.
Whole Foods entertained approaches from four private equity firms and two unnamed companies in addition to Amazon. One of those unnamed companies was an "industry participant." One week before Amazon's written offer, Whole Foods and the company arranged a meeting to discuss a merger-of-equals valued at $35 to $40 per share.
Amazon shares traded up mid-morning. Whole Foods stock traded slightly down.
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The biggest deal-maker around strikes again: Berkshire Hathaway Energy, a division of Warren Buffett's Berkshire Hathaway Inc., (BRK.A) (BRK.B) , confirmed Friday that it will purchase Oncor Electric Delivery Co. LLC in a deal that values the bankrupt unit's equity at $11.25 billion. "Oncor is an excellent fit for Berkshire Hathaway, and we are pleased to make another long-term investment in Texas - when we invest in Texas, we invest big!", Buffett said in a statement. "Oncor is a great company with similar values and outstanding assets."