Chipotle (CMG) shares are up 7% following reports that Starbucks (SBUX) is working with advisors on a potential acquisition bid. This deal, valued at over $41 billion, would be the largest restaurant acquisition ever. Starbucks shares are down 4% on the news. The report cautions the deal may not materialize 🔗.
Key points:
- CMG: +7% on takeover speculation.
- SBUX: -4% as potential acquirer.
- Scale: Chipotle's market cap is ~$41B; Starbucks is ~$102B.
- Leadership: Starbucks CEO Brian Niccol previously led Chipotle for six years.
%3Amax_bytes(150000)%3Astrip_icc()%2FGettyImages-2289196409-66af57529fcc4cf8957d3c102a31fb64.jpg&w=3840&q=75)
Chipotle Stocks Rallies on Report Starbucks Might Buy the Burrito Chain
INVESTOPEDIA.COMOct 8, 5:15 PM UTC
0