Diedrich… Coffee War Calls For Blood (DDRX, GMCR, PEET)

Posted in pre-market 
December 2nd, 2009

Diedrich Coffee Inc. (NASDAQ: DDRX) announced that the Green Mountain Coffee Roasters (NASDAQ: GMCR) re-upped buyout offer of $35 per share in cash is a better deal than the Peet’s Coffee & Tea (PEET) offer.  DDRX is actually trading above the buyout price because of the chance that PEET will make yet another offer.  DDRX has only traded 6,000 shares as of 8:11 AM EST but the stock is up 3.6% at $35.20 on last print.  The prior 52-week trading range was $0.21 to $34.09.  Imagine if these roaster mergers could have been made back when the market cap was $30 million or lower versus the almost $200 million now.

JON OGG

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