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
Green Mountain Coffee Roasters, Inc. (GMCR) recently acquired Timothy’s Coffees of the World, Inc., an affiliate of Sun Capital Partners, Inc. The acquisition was a cash transaction of approximately $157 million.
The acquisition includes the Timothy’s World Coffee brand and the wholesale business. However, the deal does not include retail operations. The retail portion of the [...]
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