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Dominion Diamond Corp of Canada, (DDC) the world’s third-largest diamond producer by market value, is in advanced and friendly talks with the Washington Companies on a sweetened cash takeover bid, sources told Reuters this week.
Update(s):
July 17, 2017: Dominion Diamond Corporation (DDC) and The Washington Companies (“Washington”), a group of privately held North American mining, industrial and transportation businesses founded by industrialist and entrepreneur Dennis R. Washington, today announced that they have entered into an arrangement agreement under which an entity affiliated with Washington will acquire all of Dominion’s outstanding common shares for US$14.25 per share in cash or a total equity value of approximately US$1.2 billion pursuant to a plan of arrangement (the “Arrangement”) under the Canada Business Corporations Act.