By Nicole Mordant
(Reuters) - Dominion Diamond
The board of Dominion, the world's third-largest diamond producer by value, has a responsibility toward its shareholders to consider the proposal from U.S.-based Washington Companies, as well as possible other bids, Jamie Horvat, fund manager at M&G Investments said.
M&G owns around 11 percent of Dominion, Horvat said.
"The best outcome for the owners right now is to do a proper strategic review, have people sign up who are interested," London-based Horvat said by phone. "Maybe others will come out of the woodwork," he said.
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On Sunday, The Washington Companies, a group of privately held North American mining, industrial and transportation businesses founded by billionaire Dennis Washington, revealed it had made a $1.1 billion all-cash proposal for Dominion.
(Reporting by Nicole Mordant in Vancouver; Editing by Denny Thomas and Diane Craft)
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