UPDATE 1-Peet's: Diedrich yet to send superior proposal notice

Wed Dec 2, 2009 6:32pm EST

* Peet's says Diedrich did not send notice of board meet

* Peet's: has not received valid superior proposal notice

Dec 2 (Reuters) - Peet's Coffee & Tea Inc (PEET.O) said it was yet to receive a notice from Diedrich Coffee Inc DDRX.O, terming Green Mountain Coffee Roasters Inc's (GMCR.O) latest offer as being superior to its bid.

In a regulatory filing, Peet's also said Diedrich failed to inform Peet's about a board meeting it held to consider Green Mountain's latest buyout proposal, as required by an existing merger agreement.

Earlier, Diedrich had said its board had deemed Green Mountain's latest offer to be superior to Peet's bid.

Diedrich is a licensee of Green Mountain's K-cup refills for the company's single-cup Keurig brewers.

Peet's shares closed at $32.77 Wednesday on Nasdaq. (Reporting by Mihir Dalal in Bangalore; Editing by Anil D'Silva) ((mihir.dalal@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: mihir.dalal.thomsonreuters.com@reuters.net))

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