Chipotle Shares Jump on Report Starbucks Weighed Takeover Bid

Financial Times··US·Read original
3▲1 ▼0Impact / 5
Summary · why it matters

Chipotle Mexican Grill shares jumped after the Financial Times reported that Starbucks has worked with advisers in recent months on a takeover proposal for Chipotle. The report links the two restaurant chains through Starbucks Chief Executive Officer Brian Niccol, who previously spent six years as the top executive at Chipotle. Michael Halen of Bloomberg Intelligence has more.

Impact on assets 2

Consumer Discretionary▲
Chipotle Mexican Grill Inc
CMG
▲ PositiveCapitalrelevance

Starbucks reportedly worked with advisers on a takeover proposal for Chipotle, a potential M&A event for the company.

Starbucks Corporation
SBUX
± MixedCapitalrelevance

Starbucks reportedly prepared a takeover bid for Chipotle, an M&A move whose strategic/financial merits are unclear.