Starbucks, a major US coffee chain, was reported to be exploring the acquisition of Mexican restaurant chain Chipotle. If completed, the deal could result in the integration of the two brands.
The Financial Times reported, citing people familiar with the matter, that Starbucks had been considering a bid for Chipotle for several months. The report did not specify when a bid might be made or what it would involve, but said Starbucks was in discussions with advisers.
If completed, the acquisition would bring together two leading US restaurant brands. Starbucks' chief executive officer is Chipotle's former CEO and was described as having experience in corporate turnarounds.
Markets were unsettled, with Chipotle shares rising approximately 5% and Starbucks shares falling approximately 3%. Data showed Chipotle's market capitalization at approximately $39 billion and Starbucks' at approximately $107 billion.