Uncertainty over a lawsuit has prevented Inco (N-T) from completing the acquisition of Diamond Fields Resources (DFR-T) on the scheduled closing date of May 29. At presstime, the deal had not yet been made final.
A joint release from the companies stated that Inco and Diamond Fields “will continue to work together to complete this transaction on a timely basis.”
The release, dated May 29, stated that a new closing date would be announced within a week.
The lawsuit in question, filed by four shareholders of Texas-based Exdiam, relates to an investment in an Arkansas diamond project. Diamond Fields Co-chairman Jean-Raymond Boulle was one of several partners in that project.
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