Walmart Not Considering a Bid for Whole Foods

Walmart ( WMT) is not considering placing a bid for health grocer Whole Foods ( WFM) , according to Reuters.

There have been rumblings that Walmart could potentially make a rival bid for Whole Foods in attempt to block Amazon’s ( AMZN) $13.7 billion takeover of the grocery chain.

Shares of Whole Foods were moving lower on the report during after-hours trading on Friday to $42.90 per share. 

Amazon agreed to purchase Whole Foods for $42 per share.

What’s Hot On TheStreet:

Well OK then, Jeff Immelt: General Electric’s (GE) outgoing CEO Jeff Immelt had some choice things to say at an event in NYC on Thursday night, TheStreet’s Kinsey Grant reports. First, Immelt revealed a possibly fatal management mistake Kroger’s (KR) CEO might have made about Amazon (AMZN) who as we all know, just inked a $13.7 billion deal for organic grocer Whole Foods (WFM) . Immelt then took a jab at Hillary Clinton and Barack Obama for not visiting factories in their push to lift manufacturing wages. Talk about a well-paid boss going down swinging.

Why Sears Canada is dying: Sears Canada (SRSC) has one foot in the grave just like its ailing U.S. friend Sears Holdings Corp. (SHLD) . Unfortunately for Sears Canada, it’s that friend across the boarder that has played a large role in its demise, TheStreet’s Michelle Lodge reports. Sears has sucked badly needed cash away from Sears Canada through the years, leaving it unable to upgrade stores and do other things to compete effectively in the always challenging Canadian retail market.

General Electric is a holding in Jim Cramer’s Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells GE? Learn more now.

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