RE:Washinton in at $18 already on recordoiltar wrote: So they also stated a raise of its bid if it could see the books.With multiple parties now doing DD the game is on for Washigton to present a formal offer or risk RIO to out bid the $188 informal offer.
It is my thinking Washington couls table a $21 bid to ward off a RIO bid making RIO have to offer even more.
It was just a few weeks ago when DDC said Washington had not approached them since the Washington Corp approach was made public, now we hear they signed confidentiality agreement and they won't say much about any takeover proposals til approved by the board (WTF) or futher disclosure is deemed appropriate? How about an offer on the table,isn't that appropriate to disclose to shareholders?
2017-05-01 08:23 ET - News Release
Ms. Jacqueline Allison reports
DOMINION DIAMOND ANNOUNCES DATE OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS
Dominion Diamond Corp.'s annual and special meeting of shareholders will take place on June 13, 2017. Shareholders as of the record date, which is the close of business on May 11, 2017, will be entitled to vote at the annual and special meeting. Further details of the annual and special meeting will be included in a management information circular, which is expected to be mailed to shareholders on or about May 19, 2017.
Update on strategic alternatives review process
As previously announced, the board of directors of the company formed a special committee to explore, review and evaluate a range of potential strategic alternatives focused on maximizing shareholder value. That process is continuing.
In connection with that process, interested parties, including Washington Corporations, have executed confidentiality agreements with the company and have been granted access to a confidential data room. The board of directors has not set a timetable for the review process nor has it made any decisions related to strategic alternatives at this time, and there can be no assurance that the exploration of strategic alternatives will result in any transaction or change in strategy.
The company does not expect to comment further on the review process unless and until a specific transaction is approved by the board of directors or the company otherwise decides further disclosure is appropriate or required.
Update on chief executive officer search process
As previously announced, the nominating and corporate governance committee of the board of directors has commenced a process to identify potential candidates to assume the role of CEO and has engaged Korn Ferry to assist in the process. That process is well under way and several qualified candidates have been interviewed, but no timetable for an appointment has been established. An update will be provided as and when further disclosure is appropriate or required.