The acquisition is for $21 per share in cash and a total consideration of $1.46 billion.
Signet is the largest specialty retail jeweler in the US and the UK, while Zale held a leading position in fine jewellery retail in North America. "Having now closed the acquisition of the Zale Corporation, we have entered a new era of growth and transformation for our Company and our people," said Mike Barnes, Signet Chief Executive Officer.
Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet