Starbucks Denies Buying Chipotle, Ending Days of Speculation Over What Could Have Been a Record Restaurant Deal
Starbucks said on Monday it is not buying Chipotle Mexican Grill, its spokesperson told Reuters, ending speculation about what could have been the largest restaurant deal on record. The Financial Times reported last week that Starbucks had worked with advisers in recent months on a possible takeover of the burrito chain; that report sent Chipotle shares up more than 7% and Starbucks down about 3%. A combination would have created a restaurant group with roughly $50 billion in annual sales. Chipotle, with a market value of around $40 billion, did not immediately respond to a request for comment. After Monday's denial, Starbucks rose about 1% in premarket trading while Chipotle fell about 2%. Starbucks' chief executive previously ran Chipotle, a link that had fuelled the market's interest in the story.
Published by GSM · USA (original Chinese edition)
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