Dominion Diamond should open books to potential suitors -shareholder [Reuters]
DDC Enterprise Limited (DDC)
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Source: Reuters
Dominion Diamond should open books to potential suitors -shareholder March 21 Dominion Diamond ,target of a $1.1 billion unsolicited bid, should run a formalsales process for the company and open its books to what couldbe several interested parties, Dominion's biggest shareholdertold Reuters on Tuesday. The board of Dominion, the world's third-largest diamondproducer by value, has a responsibility toward its shareholdersto consider the proposal from U.S.-based Washington Companies,as well as possible other bids, Jamie Horvat, fund manager atM&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 properstrategic review, have people sign up who are interested,"London-based Horvat said by phone. "Maybe others will come outof the woodwork," he said. On Sunday, The Washington Companies, a group of privatelyheld North American mining, industrial and transportationbusinesses founded by billionaire Dennis Washington, re
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