Dominion Diamond investors OK $1.2B US sale to Washington Companies

Shareholders expected to receive $14.25 US per share in cash when acquisition closes

 

The Canadian head office of Dominion Diamond is to remain in Calgary after its shareholders voted on Tuesday to approve its $1.2-billion US sale to Washington Companies.

Larry Simkins, president of the Montana-based acquirer, attended Dominion's special meeting. He said afterwards it wouldn't make sense to relocate the 100 employees of Dominion in Calgary after the head office was moved from Yellowknife earlier this year.

"It just moved here and the last thing we would do is uproot families and move them back to Yellowknife or some other place," he said.

 

Full Story: CBC News