Peet’s Coffee and Tea to Go Private

Shareholders of  Peet's Coffee & Tea, Inc. (NASDAQ:PEET) received a bonanza, when the company agreed to a $1 billion takeover offer from German investing group Joh. A. Benckiser, which will take Peet’s private in about three months, according to the WSJ. The transaction has been structured as a one-step merger, and Peets’ will not hold a conference call to discuss its second quarter fiscal 2012 results.

Shares in the speciality coffee retailer waltzed 29 percent on the news to $73.85, even higher than the $73.50 offer from Joh. A. Benckiser. The shares of the...