Getty ImagesKey FactsAmazon’s largest acquisition to date was when it purchased Whole Foods in 2017 for $13.7 billion. The company has also spent more than a billion dollars on shoe ecommerce giant Zappos ($1.2 billion in 2009) and autonomous vehicle company Zoox, which is developing a self-driving rideshare service ($1.2 billion in 2020). Chief CriticAmazon and other tech giants’ acquisition practices have been criticized by lawmakers, who have accused the companies of practicing anti-competitive behavior by buying up smaller rivals. The reported $9 billion deal comes after MGM was most recently valued at $5.5 billion in December, the Journal reports, though its stock price has soared in response to news of the expected deal. Further ReadingAmazon Reportedly Close To Buying MGM For Nearly $9 Billion (Forbes)Amazon Nears Deal to Buy Hollywood Studio MGM (Wall Street Journal)How Big Tech got so big: Hundreds of acquisitions (Washington Post)MGM’s Back On The Block And Floating A $10 Billion Price Tag.

Source: Forbes May 24, 2021 22:28 UTC