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Paul, Weiss is an acknowledged leader among U.S. law firms representing Canadian public and private companies and their underwriters. With almost 50 years of history in Canada and an office in Toronto, our vibrant Canada practice is the largest among U.S. law firms and reflects our long-standing commitment to our clients in their Canadian–U.S. cross-border matters.

Dominion Diamond Corporation to Be Acquired by Washington Companies for $1.2 Billion

As widely reported by Bloomberg, Reuters, The Wall Street Journal, The Financial Times and other media outlets, Paul, Weiss client Dominion Diamond Corporation, a Canadian diamond mining company, has agreed to be acquired by The Washington Companies for $1.2 billion. Paul, Weiss is advising the special committee and the board of directors of Dominion in the transaction.

Under the terms of the all-cash deal, an entity affiliated with Washington will acquire Dominion for $14.25 per share. The transaction – the result of a strategic review announced by Dominion on March 27 – represents a 44 percent premium to Dominion’s share price of $9.92 as of March 17, just before Washington made its first public bid for Dominion. The Washington Companies are a group of privately held North American mining, industrial and transportation businesses founded by industrialist and entrepreneur Dennis R. Washington. Dominion, (TSX: DDC, NYSE: DDC) will continue to operate as a stand-alone business, with a new chief executive based in Canada. The transaction, which is expected to close in the fourth quarter of 2017, is subject to shareholder, court and regulatory approvals.

The Paul, Weiss team for Dominion includes corporate partners Adam Givertz and Dale Sarro; and litigation partner Walter Ricciardi.

July 17, 2017

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