Deals
Dominion Diamond to Explore Sale After $1.1 Billion Proposal
- Company launches second strategic review in little over a year
- Washington Cos. offered to buy company for $1.1 billion
Diamonds are collected in buckets at the end stage of processing at the Diavik Diamond Mine facility, owned by Rio Tinto Plc and Dominion Diamond Corp., in the North Slave Region of the Northwest Territories, Canada.
Photographer: Ben Nelms/BloombergThis article is for subscribers only.
Dominion Diamond Corp. is looking for alternative bidders after receiving an unsolicited proposal from billionaire Dennis Washington to acquire the company last month for about $1.1 billion.
The Toronto-based miner formed a special committee and is working with TD Securities Inc. to explore, review and evaluate a range of options for maximizing shareholder value, including a sale, according to a statement Monday.