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Dominion Diamond to be taken private in $1.2B deal

Published 07/17/2017, 08:20 AM
© Reuters.  Dominion Diamond to be taken private in $1.2B deal
  • Dominion Diamond (NYSE:DDC) agrees to be acquired by The Washington Companies for $14.25/share in cash, confirming earlier speculation; shares are halted.
  • The deal represents a 44% premium to DDC’s share price on March 17, when Washington made an initial $13.50/share bid for the company.
  • DDC will continue to operate as a stand-alone business with a new CEO based in Canada, and will continue to operate the Ekati diamond mine and to partner with Rio Tinto (LON:RIO) in operation of the Diavik diamond mine, located in Canada's Northwest Territories.
  • Now read: New Gold Inc (NGD) Presents At BofAML 2017 Global Metals, Mining and Steel Conference


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