The Board of Directors of Dia Met Minerals is seeking a buyout after the announcement that it’s two largest shareholders were selling their stake.
The diamond exploration company will most likely be courted by Rio Tinto and BHP, analysts say.
De Beers, meanwhile, has ruled out bidding on the Canadian Dia Met, with analysts predicting that the move signals the diamond giant’s confidence in its current bid for Ashton and it’s Argyle mine.
Dia Met announced its plans after the founder’s ex-wife and one of the board members said they would accept bids for their combined 38% of voting and equity interest in its company. They have both agreed not to sell their shares privately.
Dia Met, a public mineral exploration and development company focusing on diamonds, has a 29% interest in Canada’s Ekati Diamond Mine.