Peet’s Coffee presents revised offer to Diedrich

Irvine, Calif. Diedrich Coffee said Tuesday that, late Monday, it received a revised offer from Peet's Coffee & Tea to pay to Diedrich Coffee's stockholders a value of $32.50 per share in a combination of cash and Peet's stock.

Peet's publicly announced its revised offer shortly after transmitting it to Diedrich Coffee. Peet's submitted the revised offer after getting word that Green Mountain Coffee Roasters had trumped Peet’s purchase offer.

Diedrich said it is analyzing the two offers to determine whether the Green Mountain offer continues to be superior to the terms of the Peet's merger agreement.