Hold on, folks. We got a bidding war on our hands! Earlier, Peet’s Coffee & Tea (PEET) made an offer to buy Diedrich Coffee (DDRX) for $26 a share. Now Green Mountain Coffee Roasters (GMCR) has jumped in with a $30 bid.
Peet’s immediately responded–they’re now willing to pay $32 a share for Diedrich!
I’m enjoying this bidding war since both Diedrich and Green Mountain are Strong Buys in our Emerging Growth service.