Starbucks (SBUX) Stock Falls as Chipotle (CMG) Jumps 6% on Takeover Report
Photo: CoinCentral
TLDR The Financial Times reports Starbucks explored a takeover of Chipotle Mexican Grill. Chipotle stock jumped 6% to close at $32.65, while Starbucks stock slipped 0.4% to $93.21. A deal would reunite Starbucks CEO Brian Niccol with Chipotle, where he led a major turnaround before leaving in 2024. Analysts estimate a price tag near $50 billion, which could mean heavy borrowing for Starbucks. Starbucks declined to confirm the report, saying it remains “laser focused” on its own turnaround. Starbucks stock dipped 0.4% to close at $93.21 on Thursday. Chipotle stock jumped 6% to $32.65 on the same day.
Source: CoinCentral
