Chipotle Jumps 6% on Report of Potential Starbucks Takeover

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Summary · why it matters

Chipotle shares rose more than 6% after the Financial Times reported that Starbucks has worked with advisors in recent months on a takeover proposal for the burrito chain. The status of the takeover plans could not be immediately learned, and people familiar with the matter said a mega deal of this size might never get off the ground. The Wall Street Journal later reported a statement from Starbucks saying it is laser focused on existing strategy, without saying whether that strategy involves M&A. Starbucks shares fell 4/10 of a percent on the news. In a separate deal, Viatris agreed to buy Pacira Biosciences for 3650 a share, an equity value of about 1.65 billion and a 45% premium to the Wednesday close, sending Pacira up 44% intraday, the most on record.

Impact on assets 9

Consumer Discretionary± Mixed
Chipotle Mexican Grill Inc
CMG
▲ PositiveCapitalrelevance

Starbucks reportedly worked with advisors on a takeover proposal for Chipotle, sending its shares up 6%.

Starbucks Corporation
SBUX
▼ NegativeCapitalrelevance

Reported potential takeover of Chipotle and Starbucks' statement it is focused on existing strategy; Starbucks shares fell 0.4%.

Industrials▲
Artificial Intelligence▲
Health Care▲
Biotech & Genomic Medicine▲
Viatris Inc
VTRS
▲ PositiveCapitalrelevance

Viatris agreed to acquire Pacira Biosciences for about $1.65 billion equity value.

Consumer Staples▲