Dominion Diamond has announced that its board of directors “has formed a Special Committee to explore, review, and evaluate a range of potential strategic alternatives focused on maximizing shareholder value”, IDEX Online reports. This committee will consider “alternatives which could include the sale of the company or other strategic transactions”.
James Gowans, Chairman of the Board, said: “While the Board of Directors remains confident in the company’s long-term strategic plan and the opportunity it provides to enhance value for all shareholders, we are open to exploring all strategic alternatives that are in the best interests of the Company and its stakeholders”.
Last week, Washington Companies made a $1.1 billion bid for Dominion, which the miner said “undervalued its real value despite being around 35 percent higher than its share’s closing price before the offer was made”.
