February 8th, 2010, 10:02 am by Nancy Luna, Staff Writer
From the Associated Press
Green Mountain Coffee Roasters Inc. said Monday that it is extending the cash tender offer tied to its proposed acquisition of coffee roaster and wholesaler Diedrich Coffee Inc.
About 2.3 million shares had been tendered in the $35 per share offer as of Friday.
The tender offer by Green Mountain subsidiary Pebbles Acquisition Sub Inc. will now be extended 20 business days to March 8. All other terms and conditions of the offer remain the same.
Irvine-based Diedrich has recommended that its stockholders tender their shares in the offer.
Last month Green Mountain said antitrust authorities requested more information about the proposed deal. It was the second request for information from the U.S. Federal Trade Commission.
Peet’s Coffee and Tea had agreed to buy Diedrich before Green Mountain stepped in, but Green Mountain paid Peet’s an $8.5 million termination fee.
Green Mountain has been on a buying spree of late, purchasing the Tully’s Coffee brand and wholesale coffee business from Tully’s Coffee Corp. in March 2009 for $40.3 million. It also bought Toronto specialty coffee company Timothy’s in November 2009 for $157 million, including the Timothy’s World Coffee brand and wholesale business but not the retail operations.
Related stories:
Posted in: O.C. business news • Diedrich Coffee | Post a Comment »
February 3rd, 2010, 8:43 am by Mary Ann Milbourn
A subsidiary of Newport Beach-based Acacia Research Corp. was awarded $12.4 million in a patent infringement suit against Yahoo Inc.
The judgment stems from a suit filed by Acacia’s Internet Advertising Corp. against Yahoo over a patent for messaging.
Last year a federal jury in Texas found Yahoo’s messenger program with IMVironments infringed Internet Advertising’s patent.
Internet Advertising won $6.6 million in damages. In a final judgment signed this week, a federal judge for U.S. District Court for the Eastern District of Texas also awarded the company $4.5 million for willful infringement and $1.1 million in prejudgment interest plus supplemental damages.
Yahoo will also have to pay a post-verdict on-going royalty rate of 23 percent for all of Yahoo’s IMVironment sales.
Acacia and its subsidiaries acquire and license patented technologies. It controls a diverse array of 140 patent portfolios ranging from advertising to digital media and wireless.
Did you miss these other recent business court stories …
Posted in: Acacia Research • Legal problems • O.C. business news • OC Stocks • Technology • Top tale • Acacia Research • patents • Yahoo | 5 Comments »
February 1st, 2010, 8:57 am by Nancy Luna, Staff Writer
Via AP NEWS:
Peet’s Coffee & Tea said Monday it is extending the expiration date to acquire coffee wholesaler Diedrich Coffee.
It is competing with Green Mountain Coffee Roasters for Irvine-based Diedrich.
Green Mountain has offered $35 per share, a higher offer than Peet’s. Peet’s offered to purchase all outstanding shares of Diedrich for a combination of cash and stock valued at $26 per share.
That values the deal at about $148.9 million, since the company had about 5.7 million shares outstanding as of Dec. 9, according to a filing with the Securities and Exchange commission.
But Green Mountain’s offer could run into regulatory difficulties. Last month antitrust authorities requested more information about the deal.
Related stories:
Posted in: O.C. business news • Diedrich Coffee | 2 Comments »
January 29th, 2010, 4:19 pm by Peggy Lowe
“Discover Orange County,” a new half-hour show that highlights forgotten and familar places in Orange County, will begin airing on KOCE on Thursday.
The show will be hosted by Lisa Hart, a longtime local TV personality, and is being produced by two local television veterans, Michelle Merker and Dan Donley.
“We are delighted to have “Discover Orange County” join the quality programs on KOCE-TV,” Merker said. “We can’t think of a better time to remind people of all the wonderful things they have available to them right in their own backyard.”
The show will air on KOCE-TV’s family of stations, including KOCE/HD and the OC Channel, a partnership between KOCE-TV and Chapman University. Please check your local listings for air times and channels in your area.
For more information, go to the show’s website or visit the KOCE site.
Did you miss these other recent media stories …
Posted in: Media • O.C. business news | Post a Comment »
January 29th, 2010, 2:36 pm by Gary Warner
US Airways is cutting back on the Las Vegas hub it inherited in a merger with America West. The latest move will end OC-Vegas non-stop service
US Airways will stop flying the popular route, giving Southwest a monopoly. See the full story in
Travel
Posted in: Airlines • Consumers • JWA • Top tale • Tourism • travel • airlines • Airways • Southwest • Vegas • wayne | Post a Comment »
January 28th, 2010, 9:46 am by Peggy Lowe
As anticipated, a federal judge has dropped drug charges against Broadcom co-founder Henry T. Nicholas III. The ruling comes just a month after U.S. District Judge Cormac Carney dropped securities fraud charges against the billionaire. Read our story here.
Posted in: Broadcom • Crime • Legal problems | 1 Comment »
