Reuters owns Starbucks/Green Mountain story
03.10.2011
Reuters was a month ahead of the competition in reporting that Starbucks and Green Mountain Coffee Roasters planned to join forces to dominate the fast-growing $4 billion U.S. single-serve coffee market and, thanks again to deep sources, Reuters got the jump on the rest when the official announcement was released on March 10. Shares of Green Mountain jumped as much as 43 percent after the announcement, while Starbucks gained 10 percent — the stock’s biggest one-day move since July 2009. But Reuters clients knew weeks earlier that the deal, which created about $5 billion in market cap, was in the works. Quoting a source close to the talks, Reuters reported exclusively on Feb. 14 that the two companies were in partnership talks as part of Starbucks plans to grow beyond its namesake cafes. Green Mountain shares surged as much as 13.5 percent to a lifetime high on the Reuters report, which was unmatched by competitors. When the announcement came, Reuters had a detailed story on the on the screen at 0605 ET (0305 Pacific time). It took Dow Jones and Bloomberg hours to catch up.
