Peet's Coffee & Tea, Inc. (PEET) announced the expiration of the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, pertaining to its exchange offer to acquire Diedrich Coffee Inc. (DDRX). The waiting period expired on December 14, 2009.
Peet's also announced that it has extended the expiration date of its exchange offer to acquire Diedrich for a combination of cash and stock valued at $26.00 per share. The exchange offer, which commenced on November 17, 2009, is now scheduled to expire on January 29, 2010 unless extended. The exchange offer was previously scheduled to expire at 12:00 midnight on December 15, 2009.
Peet's Coffee & Tea said that except for the extension of the exchange offer expiration date, all other terms and conditions of the offer remain unchanged. As of the close of business on Monday, December 14, 2009, about 5,126 shares of Diedrich common stock had been tendered into and not withdrawn from the offer.
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