Dominion Diamond gets friendly takeover offer worth US$1.2 billion from WashCorps

The Associated Press</span>
Published Monday, July 17, 2017 8:26AM EDT
Last Updated Monday, July 17, 2017 8:51AM EDT

TORONTO - Dominion Diamond Corp. says it's accepting a US$1.2-billion friendly cash takeover offer from The Washington Companies.

The privately held Montana-based company is offering US$14.25 per share for all shares of Dominion Diamond (TSX:DDC), which is one of the world's largest diamond producers.

Dominion Diamond had rejected a previous offer of US$13.50 per share but said its board hadn't closed the door on a deal.

Its main holdings are part-ownership in the Ekati and Diavik diamond mines in the Northwest Territories, northeast of Yellowknife.

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