Starbucks denies any plan to acquire Chipotle after speculation
Starbucks said it will not purchase Chipotle, ending recent speculation about a takeover. Earlier reports in late June said the coffee chain was consulting advisers about a possible acquisition of the fast-casual restaurant, a story that lifted Chipotle shares and weighed on Starbucks stock.
CNBC and CBS News cited a Financial Times report that sparked the market reaction, while NBC News noted both companies declined to comment. The denial was confirmed by Starbucks in statements reported by CNBC and the Seattle Times.