1319 ET - There are no obvious revenue synergies between Starbucks and Chipotle Mexican Grill, William Blair analysts Sharon Zackfia and Tania Anderson say in a research note, after the Financial Times reported that the coffeehouse has explored a takeover of burrito chain. Still, a tie-up could have other benefits, such as a shared loyalty ecosystem, cross-brand product placement, the expansion of Chipotle's licensed international business through Starbucks' existing relationships, the analysts say. "Traditional supply chain efficiencies are likely limited given very different supply chains," they write. "G&A savings would likely center in corporate G&A and technology, which we very roundly estimate could be in the $300 million range."