According to a source who spoke to Reuters on Friday, Wal-Mart will not be placing a bid for Whole Foods Market against Amazon.
The source says that the company is not actively considering to make an offer for the organic food retailer.
Some analysts had projected this week that the retailer may be looking to potentially counter bid Amazon’s offer to bulk up its digital business.
Whole Foods has not received any rival bids according to Reuters since Amazon offered $13.7 billion for it and Whole Foods accepted.
Wal-Mart has not made any official statements one way or the other and a spokesman declined to comment on whether the company may bid.
Disclaimer: We have no position in Wal-Mart Stores Inc. (NYSE: WMT) nor Whole Foods Market, Inc. (NASDAQ: WFM) and have not been compensated for this article.