Starbucks has explored a takeover of Chipotle, the FT reports, and Chipotle jumps 6 percent

Starbucks has worked with advisers in recent months on a possible bid for Chipotle, the Financial Times reported Thursday; Reuters and Bloomberg followed the report. It is unclear whether any offer was made, and a deal may not happen. Starbucks declined to comment on the report.

A deal would reunite Starbucks chief executive Brian Niccol with the burrito chain he ran until August 2024. Chipotle shares rose 6.2 percent to $32.68 at the prior close, while Starbucks fell as much as 6.7 percent during the session before closing down about 0.4 percent.

Reports put Chipotle's market value near $39 billion before Thursday's jump.