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Mountain Province gets friendly with Kennady Diamonds

Mountain Province Diamonds (CN:MPVD) has agreed to acquire Kennady Diamonds (CN:KDI) in a friendly, all-share transaction, bolstering the prospects for the former’s 49%-owned Gahcho Kué project in Canada’s Northwest Territories.

Mountain Province gets friendly with Kennady Diamonds Mountain Province gets friendly with Kennady Diamonds Mountain Province gets friendly with Kennady Diamonds Mountain Province gets friendly with Kennady Diamonds Mountain Province gets friendly with Kennady Diamonds

The Kennady acquisition will complement Mountain Province's 49% stake in Gahcho Kué (pictured)

The deal, which would see each Kennady share exchanged for 0.975 of a Mountain Province share, implies an equity value of C$176 million (US$143 million). Based on the TSX closing price on J...