Starbucks said Monday it is not considering acquiring Chipotle Mexican Grill, which would have been the biggest restaurant takeover ever. A spokesperson told CNBC’s Jim Cramer, “Starbucks is not buying Chipotle,” after the Financial Times reported Thursday that Starbucks had worked with advisors on a takeover proposal in recent months. Chipotle shares fell nearly 4% in morning trading while Starbucks rose 1%. Semafor had earlier reported that Chipotle hired advisors to defend against activist investors or an unwanted bid, and Chipotle shares are down about 20% over the past year. Chipotle investors had hoped for a reunion with Brian Niccol, who previously led Chipotle and now runs Starbucks, while Starbucks shareholders worried about a distraction during the coffee chain’s turnaround.
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