Starbucks this morning: "I can confirm for you we are not buying Chipotle." Deal that was almost unthinkably unrealistic proves to be unrealistic. Who knew?
But it is worth noting that until that report came out, Chipotle's valuation was down 45% in the two years post-Brian Niccol. And that made its valuation such that it was at least somewhat thinkable that somebody would actually try and buy the chain.
The whole report appeared to be a "Brian Niccol wants to fix his old brand" thing and not a "does this deal actually make sense" thing. And the two big reasons this didn't make sense is that it was insanely expensive, likely 3x the next largest restaurant deal of all time, and there was no clear or obvious need for Starbucks to buy Chipotle.
But you know it was fun to think about. $SBUX $CMG
@scorpioblxck The first predator is not even shown until the 45 mark and it’s a quick cut. The last movie had him on adventures with a Grogu like creature fast