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Green Mountain Coffee Roasters, Inc. Extends Tender Offer To Acquire Diedrich Coffee

 

Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) (“GMCR”) today announced that Pebbles Acquisition Sub, Inc. (“Purchaser”), a wholly owned subsidiary of GMCR, has extended its previously announced $35.00 per share cash tender offer to purchase all outstanding shares of common stock of Diedrich Coffee, Inc. (NASDAQ: DDRX) (“Diedrich Coffee”). The tender offer will now expire at midnight, New York City time, on Monday, May 10, 2010, unless further extended. The tender offer previously was scheduled to expire at midnight, New York City time, on Monday, May 3, 2010. All other terms and conditions of the tender offer remain unchanged.

GMCR also noted that, on Friday, April 30, 2010, GMCR certified to the U.S. Federal Trade Commission (the “FTC”) that it has substantially complied with the FTC’s request for additional information under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“Second Request”), in connection with GMCR’s offer to purchase all of the outstanding shares of Diedrich Coffee common stock. As a result, GMCR and Purchaser expect the waiting period applicable to the purchase of the outstanding shares of Diedrich Coffee common stock pursuant to the tender offer to expire at 11:59 p.m., New York City time, on Monday, May 10, 2010.

GMCR further noted that, on Sunday, May 2, 2010, GMCR, Purchaser, Diedrich Coffee, the members of the Board of Directors of Diedrich Coffee and the plaintiff in the purported class action on behalf of Diedrich Coffee stockholders reached an agreement in principle to settle the litigation, and executed a Memorandum of Understanding that provides for settlement of the litigation. Final settlement of the litigation is subject to, among other conditions, approval by the court presiding over the litigation.

As of 5:30 p.m., New York City time, on April 30, 2010, approximately 2,417,763 shares have been tendered into the tender offer and not withdrawn. The tender offer is subject to customary closing conditions, including, among other things, regulatory approvals. The Board of Directors of Diedrich Coffee has recommended that Diedrich Coffee stockholders tender their shares into the tender offer. Questions and requests for assistance regarding the tender offer may be directed to the Information Agent for the offer, Okapi Partners LLC, toll-free at (877) 274-8654.

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