Diedrich Accepts $290 Million Offer From Green Mountain

Coffee wholesaler Diedrich Coffee (Nasdaq: DDRX) has accepted a $35 per share takeover offer from Green Mountain Coffee Roasters (Nasdaq: GMCR). The offer equals $290 million.

Green Mountain, which had raised its all-share offer by $25 million to $290 million on Dec 2, already operates a licensing agreement with Diedrich.

Green Mountain paid Peet's Coffee & Tea (Nasdaq: PEET) an $8 million termination fee. Peet's had offered $32.50 a share for Diedrich, but said on Monday that it would not raise its offer.