Blue Nile, the successful online jewellery company, has reached an agreement to be purchased by Bain Capital Private Equity and Bow Street LLC. The public company will become private, as the purchasing parties acquire 100 per cent of outstanding shares. The all-cash deal, totaling approximately $500 million U.S., is expected to provide substantial value for stockholders, who will receive $40.75 U.S. per share. This is a 34 per cent increase over Blue Nile’s closing price on November 4, before the acquisition was announced.
Azimut Exploration Inc. has acquired four gold exploration properties in the James Bay-Eeyou Istchee territory of Quebec. The properties—Munischiwan, Pikwa, Pontois, and Desceliers—were acquired through Azimut’s strategic alliance with SOQUEM Inc. Both Azimut and SOQUEM own a 50 per cent interest in all four projects.
SOQUEM’s mission is to explore, discover, and develop mining properties in Quebec, while Azimut focuses on partnership development and target generation using geoscientific databases.
Citizen Watch Co., says it is acquiring Frederique Constant Holding SA, bringing a Swiss brand under its banner. The watchmaker says the acquisition is part of a mid-term business plan entitled, “Citizen Global Plan 2018.”