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Washington Nears Dominion Completion

$1.2 billion deal still subject to certain conditions.
Sep 25, 2017 7:31 AM   By Rapaport News
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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
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