Advanced Search

Washington Nears Dominion Completion

Sep 25, 2017 7:31 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

The Ontario Superior Court of Justice has approved the Washington Companies’ acquisition of Dominion Diamond Corporation, the Canada-based miner reported Friday.

The deal’s completion still depends on Dominion holding at least $150 million in cash if the closing occurs by November 30, or $200 million if it happens after this date. The transaction is also subject to certain customary conditions, such as getting approval under the Investment Canada Act.

Dominion expects the deal to close in the fourth quarter if it meets all these requirements.

The two companies announced the $1.2 billion takeover in July, with Dominion’s shareholders giving the deal the go-ahead last week.
Tags: Canada, Dominion, Dominion Diamond Corporation, Investment Canada Act, mining, Ontario Superior Court of Justice, Rapaport News, Washington Companies
Similar Articles
Gem Diamonds 150Gem Diamonds Jumps Back into Black
Mar 14, 2018
Gem Diamonds returned to profit last year, after the devaluation of an underperforming mine drove it to a loss in 2016.
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.