Dominion Diamond to be taken over by Washington Cos. in US$1.2B agreement

By July 17, 2017Uncategorized

CALGARY — The Washington Companies has won over the board of Dominion Diamond Corp., one of the world’s largest diamond producers, with a sweetened US$1.2-billion bid.

The privately held Montana firm is offering US$14.25 in cash per share for all stock in Dominion Diamond (TSX:DDC), up from its US$13.50 per share offer that Dominion rejected in March.

“We’re going to be in Canada for a very long time and this was a nice addition to our portfolio,” Lawrence Simkins, president of Washington Cos., said in a phone interview.

Read more…