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Washington Cos. makes move on Dominion Diamond

  • Setting the stage for a public takeover fight, Canadian mining company Dominion Diamond (NYSE:DDC) has received a $1.1B bid from a privately held conglomerate in Montana, but the two sides are at a negotiating impasse, WSJ reports.
  • Washington Cos. approached Dominion last month with an offer of $13.50 a share - representing a 36% premium to its closing price of $9.92 on Friday, when it surged more than 12% after disclosing strong earnings guidance.

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DDC-OLD--
Dominion Diamond Corporation