Starbucks denied on Monday that it is considering acquiring Chipotle Mexican Grill, which would have been the biggest ever restaurant takeover. Chipotle’s stock fell more than 2% in premarket trading following the denial, while Starbucks shares rose more than 1%. The rumors followed a Financial Times report indicating that Starbucks had been working with advisers on a takeover proposal in recent months. Chipotle, trying to recover from a rocky 2025 when restaurant traffic fell, has seen its shares decline approximately 20% over the past year, making it a cheaper target. Starbucks shareholders were concerned about an expensive distraction while the coffee chain is in the middle of its own turnaround.
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