The bidding war for Diedrich Coffee (DDRX) continues (here’s some background).
Peet’s Coffee & Tea (PEET) has now raised its bid for Diedrich to $32.50. They clearly want Diedrich’s K-Cup business and I don’t blame them. The new bid increases the cash portion to $22.87 and the stock portion to 0.321 shares. Let’s see if Green Mountain (GMCR) responds.