Starbucks Says It Is Not Acquiring Chipotle, Denies Takeover Speculation
A Starbucks spokesperson on Monday denied that the coffee chain is pursuing a purchase of Chipotle Mexican Grill, ending speculation of a takeover that would have created a restaurant group with about $50 billion in annual sales. Following the denial, Starbucks shares rose roughly 1% in premarket trading while Chipotle shares slipped about 2%. A re…