CPPIB studies bid for Dominion Diamond: Reuters
Canada Pension Plan Investment Board (CPPIB) is considering a bid for Dominion Diamond Corp and is studying the Canadian miner's books, people familiar with the process told Reuters. The move comes after Dominion, the world's third largest diamond producer by market value, put itself up for sale in late March, following an unsolicited US$1.1 billion approach by U.S. billionaire Dennis Washington. CPPIB is one of more than five parties that have signed an agreement with Dominion to get access to its confidential data, one source said. It is unlikely that the pension fund will make an offer for the company on its own, and if CPPIB decides to proceed with a bid, it may financially back a partner with mine operation expertise, the sources said.
