ROUGH-DIAMOND PRODUCER DEAL
Dominion Diamond holds out for higher Washington offer
Toronto/Vancouver — Canada’s Dominion Diamond is hoping Montana billionaire Dennis Washington will cough up a little more cash to buy the world’s third-largest producer of rough diamonds by value. However, the company, which has put itself on the block twice in the past two years, says there is no guarantee a deal will take place. "The company has not made any decisions related to strategic alternatives at this time and there can be no assurance that the exploration of strategic alternatives will result in any transaction or change in strategy," Dominion said in a statement on Friday. "As previously disclosed, interested parties, including Washington [Companies], have executed confidentiality agreements with the company." The statement came after shares of Dominion were halted on Friday as rumours swirled about a possible takeover. A person with knowledge of the negotiations said Dominion was in exclusive talks with Washington Companies over a higher takeover offer than $13.50 a sha...
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