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Starbucks up, Chipotle falls after coffee chain says not buying burrito chain

By Reuters News13:41 (UTC), 12 October 2026 Updated

** Shares of Starbucks SBUX.O up ~1% at $91.50, while Chipotle Mexican Grill shares CMG.N down ~3% at $30.57 in morning trading

** SBUX says it is not buying CMG, amid takeover speculation

** Chipotle declined to comment, adding that its focus remains on executing "Recipe for Growth strategy"

** The Financial Times, last week, reported that the coffee giant worked with advisers on a potential takeover proposal for the burrito chain

** Up to last close, SBUX up about 8% YTD; CMG down about 15% YTD

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