Whole Foods' CEO called activist investor 'greedy bastards,' and then struck a deal that will lead to a huge payday for one
Reuters/Lucy Nicholson
Amazon on Friday agreed to buy Whole Foods in a megadeal valued at $13.7 billion, or $42 a share.
Jana Partners, an activist hedge fund that has been a thorn in Mackey's side, is the third-largest shareholder with a stake of just over 8%.
Its share of the company is worth $1.1 billion at the deal price, about $230 million more than a day ago.
Jana Partners, which manages more than $5 billion in capital, upped its stake in Whole Foods in April and pushed the company to look into strategic options, including a sale. Mackey reshuffled the company's board in May.
Earlier this week, Mackey called Jana Partners "greedy bastards" in an series of interviews with Texas Monthly. He also referred to them as "Ringwraiths," which are villainous characters from the "Lord of the Rings" series.
"[T]hese guys just want to sell us, because they think they can make forty or fifty percent in a short period of time," Mackey told Texas Monthly's Tom Foster. "They're greedy bastards, and they're putting a bunch of propaganda out there, trying to destroy my reputation and the reputation of Whole Foods, because it's in their self-interest to do so."
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- From terrace to table: 8 Edible plants you can grow in your home
- India fourth largest military spender globally in 2023: SIPRI report
- New study forecasts high chance of record-breaking heat and humidity in India in the coming months
- Gold plunges ₹1,450 to ₹72,200, silver prices dive by ₹2,300
- Strong domestic demand supporting India's growth: Morgan Stanley