WINSPEAR Diamonds said it has agreed to waive the application of its shareholders rights plan to a hostile C$259 m all-cash offer by De Beers. This will buy it more time to court shareholders and try to find a white knight against the attempted hostile bid.
Winspear’s chief financial officer, Don MacDonald, said the move was in no way a softening of its opposition to De Beers’ July 6 bid of C$4.25 per common share. – Reuters
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