Indexes rose sharply Monday, although they closed off their session highs. The Nasdaq, NYSE composite and S&P 500 rose 1.4% each, while the Dow added 1.3%. Volume fell across the board. Diedrich Coffee (DDRX) gapped up to a nearly 12-year high, surging 7.66, or 29%, to 33.65. Peet's Coffee & Tea (PEET) raised its offer for the maker of K-Cup single-cup servings to $32 a share. The new bid came after Green Mountain Coffee Roasters (GMCR) made a
Peet's Coffee & Tea (Nasdaq: PEET) raised its offer for the wholesale roaster and distributor Diedrich Coffee Inc. (Nasdaq: DDRX) by about 24% to $265 million. The new offer values Diedrich at $32 a share, $2 a competing bid from Green Mountain Coffee Roasters (Nasdaq: GMCR).
Under the terms of Peet's revised proposal, Peet's said it will pay $19.80 in cash and 0.321 of one share of Peet's common stock for each share of Diedrich common stock. Investors sent Diedrich shares higher by nearly 30%, indicating they favor the new proposal and that Peet's could raise its offer again.
DailyFinance: There's a bidding war brewing over Diedrich Coffee (DDRX), the maker of single-serving cups of joe for home or office percolation.
Diedrich agreed on Nov. 2 to sell itself to Peet's Coffee and Tea (PEET), the java chain that is said to have ... Read more
BloggingStocks: Today started out strong and stayed positive all day, even if some commented that the highs were not held. The weak dollar helped commodities and helped stocks. A 10.1% October sales rise by the National Association of Realtors by those trying to get ... Read more
This morning, there’s lots of buzz — unassisted by caffeine — over the fight over Diedrich Coffee (DDRX) which Peet’s (PEET) agreed to buy at the beginning of this month for $26 a share, but is now offering $32 a share after rival Green Mountain Coffee (GMCR) offered to buy Diedrich for $30 a share. [...]
BloggingStocks: Just about a year ago, the shares of Diedrich Coffee (DDRX) were trading around 30 cents. Since then, it's been an incredible ride as the shares have reached $33.
Over the past month, Diedrich Coffee has actually been the target of a heated buyout ... Read more
This was sent to TIMalert subscribers at 1AM EST this morning while you were trying to figure out how to analyze an irrelevant penny stock like E*TRADE Financial Corporation Uh oh, Seeking Alpha deleted the bio of the hedge fund analyst who wrote that negative piece on DDRX right before...[More...]
BloggingStocks: Analyst upgrades:
FBR Capital upgraded Overseas Shipholding (NYSE: OSG) to Outperform from Market Perform following the Q3 results as it believes the worst quarters are behind the company. The firm raised its target on shares to $48 from $35.
... Read more
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