Peet's: Diedrich yet to send superior proposal notice
Peet's Coffee & Tea Inc said it was yet to receive a notice from Diedrich Coffee Inc, terming Green Mountain Coffee Roasters Inc's latest offer as being superior to its bid.
In a regulatory filing, Peet's also said Diedrich failed to inform Peet's about a board meeting it held to consider Green Mountain's latest buyout proposal, as required by an existing merger agreement.
Earlier, Diedrich had said its board had deemed Green Mountain's latest offer to be superior to Peet's bid.
Diedrich is a licensee of Green Mountain's K-cup refills for the company's single-cup Keurig brewers.
Peet's shares closed at $32.77 Wednesday on Nasdaq.
(Reporting by Mihir Dalal in Bangalore; Editing by Anil D'Silva)
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