Chipotle shares jump after report that Starbucks has explored a takeover
Summary
Starbucks has looked into buying Chipotle Mexican Grill, which caused Chipotle’s stock to rise by up to 8% on Thursday. It is not clear if Starbucks has made a formal offer, and analysts say the deal would be one of the biggest restaurant acquisitions ever.Key Facts
- Chipotle’s stock rose sharply after reports that Starbucks considered buying the company.
- Starbucks CEO Brian Niccol was previously CEO of Chipotle until August 2024.
- Chipotle’s stock price has dropped about 50% since Niccol left.
- Starbucks shares fell about 4.4% during the day but ended mostly unchanged.
- The reported deal would be one of the largest restaurant deals in history.
- Starbucks has sought advice on a possible takeover but has not confirmed any formal bid.
- Analysts are unsure if the companies would benefit from combining and see the deal as unlikely.
- Niccol’s main focus at Starbucks remains on improving the company’s U.S. operations.
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