July 17 (Reuters) - Dominion Diamond Corp DDC.TO :
* Dominion Diamond to be acquired by the Washington Companies for US$14.25 per share in cash
* Dominion Diamond Corp - deal for US$1.2 billion
* Dominion Diamond Corp - board has unanimously determined that arrangement is in best interests of company
* Dominion Diamond Corp - as part of deal Washington plans to operate co as standalone business
* Dominion Diamond - if arrangement not completed as a result of a superior proposal, co required to pay Washington termination fee equal to US$43.9 million
* Dominion Diamond Corp - Washington Companies has obtained fully committed debt financing for deal
* Dominion Diamond Corp - balance of deal consideration will be funded with an equity commitment from Washington and cash on Dominion's balance sheet
* Dominion Diamond Corp - as part of this acquisition, Washington plans to appoint a new CEO based in Canada to Dominion management team
* Dominion Diamond - as part of deal, Washington plans to operate Dominion as a standalone business
* Dominion Diamond-if washington unable to complete arrangement in any limited circumstances, Washington to pay co reverse termination US$70.2 million
* Dominion Diamond Corp - as part of transaction, environmental bonding obligations of Dominion will remain unchanged
* Dominion Diamond - as part of acquisition, Washington plans to keep co's headquarters in canada, maintain a significantly canadian management team