Lucara and Gem Diamonds End Merger Talks
May 04, 11
(IDEX Online News) - Gem Diamonds announced that it is no longer holding talks with Lucara Diamond Corp and that they have not reached an agreement. In March, the sides acknowledged that they are “in talks.”
The Tuesday announcement ended weeks of speculation over a possible merger. On March 21 the sides acknowledged that they were holding preliminary talks, both adding that they are also talking with other companies as well.
Gem it is continuing to monitor potential value enhancing opportunities outside of its current asset portfolio.