$11B+ U.S. salesStrategic acquisitionConsumer & RetailRumored
Starbucks reportedly explores a takeover bid for Chipotle
Starbucks has been working with advisers on a possible takeover proposal for Chipotle Mexican Grill, the Financial Times reported. The report sent Chipotle shares up about 6%. Chipotle has more than $11B in annual U.S. system-wide sales, and Starbucks declined to comment.
Why it matters: A deal would combine two of the largest U.S. restaurant chains under CEO Brian Niccol, Chipotle's former chief, though one analyst puts the odds at about 20%.
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