- Financial Times reported Starbucks explored a takeover of Chipotle; the burrito chain has a market value near $39bn.
- A deal would rank as the largest restaurant acquisition of all time.
- Seeking Alpha reported merger speculation lifted CMG and SBUX shares after early losses.
- Semafor raised the possibility of a Chipotle-Starbucks merger.
Quotes
“A purchase of nearly $39bn market-value burrito chain would rank as largest restaurant acquisition of all time”
“Shares of Chipotle Mexican Grill (CMG) and Starbucks (SBUX) wiped out early morning losses and were grinding higher on speculation that the Mexican restaurant chain could merge with the coffee powerhouse.”