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LUC - Lucara Diamond News Story

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Last Trade - 05/05/21

Sector
Basic Materials
Size
Small Cap
Market Cap £185.8m
Enterprise Value £205.5m
Revenue £90.2m
Position in Universe 535th / 2705

Dominion Diamond should open books to potential suitors -shareholder

Tue 21st March, 2017 7:01pm
By Nicole Mordant 
    March 21 (Reuters) - Dominion Diamond  DDC.TO   DDC.N , 
target of a $1.1 billion unsolicited bid, should run a formal 
sales process for the company and open its books to what could 
be several interested parties, Dominion's biggest shareholder 
told Reuters on Tuesday. 
    The board of Dominion, the world's third-largest diamond 
producer by value, has a responsibility toward its shareholders 
to consider the proposal from U.S.-based Washington Companies, 
as well as possible other bids, Jamie Horvat, fund manager at 
M&G Investments said. 
    M&G owns around 11 percent of Dominion, Horvat said. 
    "The best outcome for the owners right now is to do a proper 
strategic review, have people sign up who are interested," 
London-based Horvat said by phone. "Maybe others will come out 
of the woodwork," he said. 
    On Sunday, The Washington Companies, a group of privately 
held North American mining, industrial and transportation 
businesses founded by billionaire Dennis Washington, revealed it 
had made a $1.1 billion all-cash proposal for Dominion. 
 urn:newsml:reuters.com:*:nL2N1GW0N3    
 
 (Reporting by Nicole Mordant in Vancouver; Editing by Denny 
Thomas and Diane Craft) 
 ((nicole.mordant@thomsonreuters.com; +1-778-374-3854; Reuters 
Messaging: nicole.mordant.thomsonreuters.com@reuters.net)) 
 
Keywords: DOMINION DIAMOND M&A/SHAREHOLDER
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