News & Releases
THE WASHINGTON COMPANIES DISCLOSE ALL-CASH PROPOSAL TO ACQUIRE DOMINION DIAMOND CORPORATION FOR US$13.50 PER SHARE
US$1.1 Billion Proposal Would Provide Substantial Premium to Dominion Diamond Shareholders
Missoula, Mont. - March 19, 2017
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 it has made a proposal to the board of directors of Dominion Diamond Corporation (TSX: DDC, NYSE: DDC) (“Dominion”) for a transaction in which Washington would acquire all of the outstanding common shares of Dominion for US$13.50 per share in cash, representing a 36 percent premium to Dominion’s closing stock price on March 17, 2017 and a 54 percent premium to the price when discussions ended on March 15, 2017. More....