Peet's Coffee & Tea (PEET) announced after the close Monday that it agreed to acquire Diedrich Coffee Inc. (DDRX) for $26.00 per share. The cash-and-stock transaction is valued at approximately $213 million. Peet's Coffee & Tea rose sharply during the first half hour of trade Tuesday, but settled into a range for the remainder of the day. Shares finished up by $3.88 at $38.44 on the highest volume of the year. The stock has been rising steadily over the last week and closed at its fifth consecutive new high for the year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.