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Green Mountain Coffee Roasters Inc. agreed to buy Diedrich Coffee Inc. for about $290 million in cash, trumping a competing offer by Peet's Coffee & Tea Inc. for the maker of single-serving coffee packets. Green Mountain, based in Waterbury, Vt., is offering Diedrich investors $35 a share, Diedrich said in a statement today. Chairman Paul Heeschen and executives owning more than 32% of Irvinea-based Diedrich's stock support Green Mountain's offer. The accord is set to end a bidding contest between Green Mountain and Peet's to secure the company's profitable K- Cup business.

Edmund Shea Jr., a venture capitalist who co-founded Shea Homes, one of the nation's largest for-profit home builders, has died. He was 80. Shea died of pulmonary fibrosis Friday at his home in San Marino, according to spokesman Aaron Curtiss. As a venture capitalist, Shea invested in such startups as Adobe, Compaq computers and Peet's Coffee & Tea. "He's had an extraordinary record of success, and he did it under the radar screen," said William Brody, president of the Salk Institute in La Jolla and president emeritus of Johns Hopkins University.

Green Mountain Coffee Roasters Inc. looks to have won a bidding war to buy Diedrich Coffee Inc., the Irvine coffee roaster. Rival bidder Peet's Coffee & Tea Inc. said Monday that it would not raise its bid for Diedrich. That leaves Green Mountain's all-cash offer of $290 million, or $35 a share. Just a year ago, Diedrich shares sold for 30 cents. Peet's started the bidding war last month with a $213-million stock and cash offer. It made its latest announcement after the stock market closed Monday.

Diedrich Coffee Inc., the Irvine coffee wholesaler, has agreed to be acquired by Green Mountain Coffee Roasters Inc. The $290-million, or $35-a-share, merger agreement ended a nearly two-month bidding war with rival Peet's Coffee & Tea Inc. The bidding war started last month with a $213-million stock and cash offer from Peet's, which dropped out Monday, leaving Green Mountain in a position to close the deal. Green Mountain will pay Peet's $8.5 million to terminate an earlier merger agreement with Diedrich.

Diedrich Coffee Inc., the Irvine coffee wholesaler, has agreed to be acquired by Green Mountain Coffee Roasters Inc. The $290-million, or $35-a-share, merger agreement ended a nearly two-month bidding war with rival Peet's Coffee & Tea Inc. The bidding war started last month with a $213-million stock and cash offer from Peet's, which dropped out Monday, leaving Green Mountain in a position to close the deal. Green Mountain will pay Peet's $8.5 million to terminate an earlier merger agreement with Diedrich.

Peet's Coffee & Tea Inc. raised its bid to buy Diedrich Coffee Inc., the maker of single-serve coffee packets, for the second time to $32.50 a share, topping the latest offer from Green Mountain Coffee Roasters Inc. Peet's boosted the cash portion of its bid to a range of $21.26 to $22.87, plus 0.321 share of its own stock, for each Diedrich share, the Emeryville, Calif.-based company said. The offer totals $32.50 a share at any price of Peet's stock from $30 to $35. Last week, Peet's offered as much as $32 a share, including $19.80 in cash, while Green Mountain raised its bid to $32 a share in cash, or $265 million.

Irvine-based coffee roaster and distributor Diedrich Coffee Inc. has agreed to be acquired by Peet's Coffee & Tea Inc. for about $213 million in cash and stock. The Emeryville, Calif., gourmet coffee retailer, which announced the acquisition after the stock market closed Monday, valued the transaction at $26 for each Diedrich share. That's 28% above Diedrich's closing price Monday of $20.36 a share -- and more than 85 times the stock's low of 30 cents reached last December. In after-hours trading, Diedrich shares soared to more than $25 a share.

Diedrich Coffee Inc. of Irvine said Green Mountain Coffee Roasters Inc.'s $265-million all-cash takeover offer was superior to a stock-and-cash bid from Peet's Coffee & Tea Inc. Peet's proposal to buy Diedrich reverted to the Nov. 2 offer of $26 a share, or about $213 million, after an improved bid of $30.35 a share, or about $251 million, expired Wednesday. Green Mountain, of Waterbury, Vt., raised its bid to $32 a share Tuesday, from $30. The companies are vying for Diedrich's K-Cup business, which makes single-serving coffee pods used in Green Mountain's Keurig brewing equipment.

The soothing music, the warm wood paneling, the sleek black chairs, the smell of Italian roast--it feels like Starbucks. But it is Peet's Coffee & Tea, a Northern California specialty coffee roaster that spun off Starbucks in 1987 when the Seattle chain consisted of only six stores. Now Peet's has caught the expansion bug, opening a cafe in January in Pasadena, its first south of Santa Cruz.

A takeover battle for an Orange County coffee roaster has turned downright frothy, with major rivals Peet's Coffee & Tea Inc. and Green Mountain Coffee Roasters Inc. trading bids and barbs. At stake is Diedrich Coffee Inc. of Irvine and a large chunk of business selling coffee cartridges, or pods. The fight has already pushed the price to $290 million from $213 million last month. And another bidding deadline is today. These single-use ground coffee pods fit into the popular Keurig single-cup brewers sold in department stores and household goods suppliers such as Target and Bed, Bath and Beyond.

Green Mountain Coffee Roasters Inc. looks to have won a bidding war to buy Diedrich Coffee Inc., the Irvine coffee roaster. Rival bidder Peet's Coffee & Tea Inc. said Monday that it would not raise its bid for Diedrich. That leaves Green Mountain's all-cash offer of $290 million, or $35 a share. Just a year ago, Diedrich shares sold for 30 cents. Peet's started the bidding war last month with a $213-million stock and cash offer. It made its latest announcement after the stock market closed Monday.

Green Mountain Coffee Roasters Inc. agreed to buy Diedrich Coffee Inc. for about $290 million in cash, trumping a competing offer by Peet's Coffee & Tea Inc. for the maker of single-serving coffee packets. Green Mountain, based in Waterbury, Vt., is offering Diedrich investors $35 a share, Diedrich said in a statement today. Chairman Paul Heeschen and executives owning more than 32% of Irvinea-based Diedrich's stock support Green Mountain's offer. The accord is set to end a bidding contest between Green Mountain and Peet's to secure the company's profitable K- Cup business.

A takeover battle for an Orange County coffee roaster has turned downright frothy, with major rivals Peet's Coffee & Tea Inc. and Green Mountain Coffee Roasters Inc. trading bids and barbs. At stake is Diedrich Coffee Inc. of Irvine and a large chunk of business selling coffee cartridges, or pods. The fight has already pushed the price to $290 million from $213 million last month. And another bidding deadline is today. These single-use ground coffee pods fit into the popular Keurig single-cup brewers sold in department stores and household goods suppliers such as Target and Bed, Bath and Beyond.

Peet's Coffee & Tea Inc. raised its bid to buy Diedrich Coffee Inc., the maker of single-serve coffee packets, for the second time to $32.50 a share, topping the latest offer from Green Mountain Coffee Roasters Inc. Peet's boosted the cash portion of its bid to a range of $21.26 to $22.87, plus 0.321 share of its own stock, for each Diedrich share, the Emeryville, Calif.-based company said. The offer totals $32.50 a share at any price of Peet's stock from $30 to $35. Last week, Peet's offered as much as $32 a share, including $19.80 in cash, while Green Mountain raised its bid to $32 a share in cash, or $265 million.

Diedrich Coffee Inc. of Irvine said Green Mountain Coffee Roasters Inc.'s $265-million all-cash takeover offer was superior to a stock-and-cash bid from Peet's Coffee & Tea Inc. Peet's proposal to buy Diedrich reverted to the Nov. 2 offer of $26 a share, or about $213 million, after an improved bid of $30.35 a share, or about $251 million, expired Wednesday. Green Mountain, of Waterbury, Vt., raised its bid to $32 a share Tuesday, from $30. The companies are vying for Diedrich's K-Cup business, which makes single-serving coffee pods used in Green Mountain's Keurig brewing equipment.

Irvine-based coffee roaster and distributor Diedrich Coffee Inc. has agreed to be acquired by Peet's Coffee & Tea Inc. for about $213 million in cash and stock. The Emeryville, Calif., gourmet coffee retailer, which announced the acquisition after the stock market closed Monday, valued the transaction at $26 for each Diedrich share. That's 28% above Diedrich's closing price Monday of $20.36 a share -- and more than 85 times the stock's low of 30 cents reached last December. In after-hours trading, Diedrich shares soared to more than $25 a share.

Edmund Shea Jr., a venture capitalist who co-founded Shea Homes, one of the nation's largest for-profit home builders, has died. He was 80. Shea died of pulmonary fibrosis Friday at his home in San Marino, according to spokesman Aaron Curtiss. As a venture capitalist, Shea invested in such startups as Adobe, Compaq computers and Peet's Coffee & Tea. "He's had an extraordinary record of success, and he did it under the radar screen," said William Brody, president of the Salk Institute in La Jolla and president emeritus of Johns Hopkins University.

The soothing music, the warm wood paneling, the sleek black chairs, the smell of Italian roast--it feels like Starbucks. But it is Peet's Coffee & Tea, a Northern California specialty coffee roaster that spun off Starbucks in 1987 when the Seattle chain consisted of only six stores. Now Peet's has caught the expansion bug, opening a cafe in January in Pasadena, its first south of Santa Cruz.