Peet's to Buy Diedrich Coffee

Burlington Northern (BNI) isn’t the only merger going on today. Diedrich Coffee (DDRX), which is one of my favorite coffee stocks, is being bought out by Peet’s Coffee & Tea (PEET). Ironically, as I mentioned a few weeks ago, Peet’s is my favorite brand of coffee, so this is a good deal for me.

Peet’s is buying DDRX for $26 a share which is a 28% premium to yesterday’s close so the shares are way up today. I think this is a very good deal for Peet’s as well. That stock has been up by as much as 15% today to a new 52-week high.

Two weeks ago, I highlighted Green Mountain Coffee Roasters (GMCR) and Diedrich Coffee as being my favorite coffee stocks. Get ready for Green Mountain’s earnings which will be coming out next Wednesday, November 11.

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