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Chipotle Shares Are Soaring on News That Starbucks May Acquire It

The Motley Fool·
Chipotle Shares Are Soaring on News That Starbucks May Acquire It

Starbucks is reportedly considering acquiring Chipotle Mexican Grill in what would be the largest-ever restaurant sector merger, valued at over $41 billion. The news sent Chipotle shares up nearly 7% while Starbucks shares dropped over 3%. Starbucks CEO Brian Niccol, a former Chipotle CEO who engineered a successful turnaround there, is now attempting a similar transformation at Starbucks amid declining sales.

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