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Could a bidding war about to be kicked off for everyone's favourite organic quinoa purveyor, Whole Foods?

Investors seems to think so, as shares in the grocery chain pushed above the $42 a share offer tabled by Amazon earlier this month.

Analysts at JP Morgan reckon rival chain Walmart (owners of Asda in the UK) could step in with a new bid, to fight off Amazon's dominance.

In a note to clients, JP Morgan wrote: "We do think there is a chance that Walmart makes a bid.

"[Walmart] stands out as the only company in our coverage with the means and motive to counter bid, but the motive is ultimately more driven by a defensive strategy."

Walmart has been suffering in recent years at the hands of Amazon, especially more recently with the launch of the latter's groceries home delivery service.

The analysts also said, Whole Foods "seems unusually excited by the prospect of having Amazon as a parent. We do not think an alternative suitor would evoke the same reaction."