Canadian diamond miner Dominion Diamond Corp (DDC.TO) (DDC.N), which is being pursued by Washington Cos and Stornoway Diamond Corp (SWY.TO), said it would explore strategic alternatives, including a sale.
U.S.-listed shares of Dominion, which has a market cap of C$1.41 billion ($1.06 billion), were up 7.3 percent at $13.70 in premarket trading on Monday. Dominion’s largest shareholder, M&G Investments, last week asked the company to run a formal sales process and open its books to interested parties.
Washington Cos, a group of privately held North American mining, industrial and transportation businesses founded by billionaire Dennis Washington, revealed its $1.1 billion unsolicited bid in March. Continue Reading →