Equities

Reuters reveals Impossible Foods stopped McDonald's burger talks; market reacts

Reuters reveals Impossible Foods stopped McDonald's burger talks; market reacts

Impossible Foods is no longer trying to win a coveted deal to supply McDonald’s Corp with plant-based burgers, revealing to Reuters that it cannot produce enough of its imitation meat to partner with the world’s No.1 fast-food chain. Its strategic reversal marks a new twist in the battle among imitation-meat makers, which hope to convince more restaurants to offer their patties. Shares of Impossible rival Beyond Meat surged, closing 12.5% higher, after the Reuters report was published.