TribLIVE

| Business

 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Signet Jewelers to buy Zale for about $900M

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Associated Press
Thursday, Feb. 20, 2014, 12:01 a.m.
 

Two diamond sellers are getting engaged.

Signet Jewelers said on Wednesday that it agreed to buy Zale Corp. for roughly $900 million to help it expand in North America.

Shares of Zale soared more than 40 percent in premarket trading, while Bermuda-based Signet Jewelers Ltd.'s stock rose more than 9 percent.

Signet, which operates 1,400 U.S. stores under the names Kay Jewelers and Jared The Galleria of Jewelry and 500 stores in the U.K. under the names H. Samuel and Ernest Jones, said it will pay $21 per share. That's a 41 percent premium to Zale's $14.91 Tuesday closing price.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Pittsburgh unemployment rate steady as job market shrinks
  2. Steelworkers union says ATI talks to resume
  3. Sniffer lets PixController detect methane gas leaks
  4. ModCloth gets physical
  5. Trib 30 takes bigger hit than Dow in August
  6. Steelworkers union says ATI talks to resume
  7. Gasoline prices down nearly a dime in Pittsburgh area
  8. Popularity of emerging markets wanes
  9. Tubman, Anthony win support for redesigned $10 bill
  10. August stock markets marked by fierce, deep selling
  11. Alpha Natural Resources executive resigns amid restructuring