Shares of Chipotle Mexican Grill jumped after the Financial Times reported that Starbucks Corp. has worked with advisers in recent months on a takeover proposal for the burrito chain. The status of the takeover plans couldn't be immediately learned, and the FT said a mega deal of this size might never get off the ground, citing people familiar with the matter. Neither company has commented on the veracity of the claims, and analysts have greeted the report with considerable head-scratching over what the actual justification would be. Brian Niccol, Starbucks' chief executive officer since 2024, previously spent six years as the top executive at Chipotle, where he spearheaded a period of rapid growth. Some analysts speculate the deal could cost up to $50 billion once a premium is added, a complicated transaction that would land in the middle of Starbucks' billion-dollar turnaround.
Chipotle Mexican Grill IncFT report that Starbucks explored a takeover proposal for Chipotle, a potential M&A event for the burrito chain.
Starbucks CorporationReported to have worked with advisers on a takeover proposal for Chipotle, a complicated mega-deal amid its turnaround with unclear justification.
