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Peet's Coffee & Tea Inc. said Monday it has delivered a sweetened takeover offer of $32 per share, or about $265 million, to the board of wholesale roaster and distributor Diedrich Coffee Inc.

Emeryville, Calif.-based Peet's enhanced proposal is in response to a competing offer for Diedrich from Green Mountain Coffee Roasters Inc. for $30 per share in cash. Diedrich's board concluded Friday that Green Mountain's offer was superior to the original Peet's proposal of $26 per share in cash and stock.

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NOT A SUBSCRIBER? Peet's raises ante for Diedrich Posted on November 23, 2009 4:00 PM Peet's Coffee & Tea Inc. said Monday it has delivered a sweetened takeover offer of $32 per share, or about $265 million, to the board of wholesale roaster and distributor Diedrich Coffee Inc. Emeryville, Calif.-based Peet's enhanced proposal is in response to a competing offer for Diedrich from Green Mountain Coffee Roasters Inc. for $30 per share in cash. Diedrich's board concluded Friday that Green Mountain's offer was superior to the original Peet's proposal of $26 per share in cash and stock. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 410 in-depth reports of M&A deals in the Food sector 51 company pages related to Coffee 32 articles related to Peet's Coffee & Tea Inc. 14 articles related to Diedrich Coffee 10 years of news and analysis archives from the voice of The Deal Economy Most-searched keywords Deutsche Bank Skadden Arps Pinnacle Foods Concho Resources Agrium Inc. Birds Eye Cantor Fitzgerald Credit Suisse Windstream Corp. Goldman Sachs		EXISTING USERS Username Password Forgot your password? Missing a product?

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Peet's raises ante for Diedrich