Canada's Dominion Diamond Corp. (DDC) , the third-largest diamond producer in the world by market value, is in advanced discussions with Washington Cos. regarding a sweetened cash takeover bid, Reuters reports.
Washington Cos., based in Missoula, Mont., is a group of privately held North American mining, industrial and transportation companies founded by industrialist and entrepreneur Dennis R. Washington.
The two companies are said to be currently discussing a final price for the deal, and its completion could be announced within weeks.
It was unclear how much Washington Cos. had increased its initial unsolicited cash proposal, $13.50 per share, which was the cause for Dominion to put itself up for sale in March.
Dominion, of Toronto, rejected that offer, saying it undervalued the company and terms of proposed talks were unacceptable.
Shares of Dominion Diamond were climbing over 5.3% during midday trading on Friday.
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More issues for food makers: As if food makers such as Kraft Heinz (KHC) and grocery retailers like Kroger (KR) and Walmart (WMT) didn't have enough issues on their plate thanks to Amazon's (AMZN) advances.
A significant demographic headwind could add further pressure on the packaged food and grocery store sectors in the years ahead, according to Wolfe Research analyst Scott Mnushkin. The U.S. government reported recently that the fertility rate in the U.S. (births per 1,000 women) hit a record low of 62.0 in 2016, with the number of births down about 1% from the prior year. With births declining and immigration slowing, population growth in the U.S. has stalled.
For the aforementioned sectors, Mnushkin points out, it's critical households are formed in order for demand to materialize. The fact that's not happening at a decent clip is troublesome.
All eyes on Apple's iPhone 8, per the usual: Barclays analyst Mark Moskowitz is not buying the projected "super cycle" in Apple's (AAPL) stock after the tech titan releases its highly anticipated iPhone 8 later this year. Amid reports that the highly anticipated smartphone may not include wireless charging, enhanced 3D technology, or Touch ID, Moskowitz contends that the phone's OLED display, the lone headline feature, won't be enough to convince consumers to upgrade.
"With OLED, we struggle to see the incremental benefits visually that would inspire a customer to replace an adequately-performing device," he noted.
Crowley, who built the location intelligence company into a service with 50 million monthly active users across its two apps since founding the company in 2009, spoke with TheStreet'S Natalie Walters at the company's hip headquarters in Soho, New York.
"I can see what Amazon is trying to do there," Crowley said. "I think it's super brilliant." As for what Crowley is up to at FourSquare right now, check out TheStreet this weekend.
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