The coffee company is looking to buy 10% of SodaStream, according to Israeli business news publication Globes. The report’s sources claim that a deal between the two sides will be announced soon.
The deal would cost Starbucks a whopping $1.1 billion, a 30% premium on the company’s market price. The beverage company’s stock has been booming ever since news of the coffee giant taking a stake on the company broke out.
SODA stock is up over 10.7% after closing on Wednesday. SBUX stock is down over 1%.