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Amazon Shops Locally, But Spreads Fear Globally

Amazon is coming to get you no matter where you are. From London to Sydney, investors have interpreted the technology giant’s $13.7 billion acquisition of Whole Foods as a warning shot to local grocers. Yet a more bullish interpretation is also possible: Amazon is coming to buy you.

For a deal centered on 430-some stores based mostly in the U.S., Amazon’s bid for Whole Foods has spread collateral damage surprisingly far. Shares in Australia’s Woolworths fell 3.5% Monday—the first day investors had to respond to Friday’s…

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