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Today, Oct. 12, 2026, takeover speculation evaporated after Starbucks ruled out a deal, sending the fast-casual chain down 3.75%.
Shares of mexican fast-food chain Chipotle (NYSE:CMG) fell 4.1% in the morning session after Starbucks denied that it is considering an acquisition of the company (CMG), reversing speculative gains fueled by takeover rumors.
"Starbucks is not buying Chipotle," a Starbucks spokesperson told CNBC.