Dominion Diamond investors approve US$1.2-billion sale to Washington Cos.
CALGARY — The Canadian head office of Dominion Diamond (TSX:DDC) is to remain in Calgary after its shareholders voted on Tuesday to approve its US$1.2-billion 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.
Investors in the Northwest Territories diamond producer voted more than 99 per cent in favour of the deal announced in July. Dominion had launched a strategic alternatives search after it rejected an initial Washington Companies offer in February.