Home / AMERICAN NEWS / Signet Jewelers Looks To Buy Out Zales For $690 million

Signet Jewelers Looks To Buy Out Zales For $690 million

Signet Jewelers a British owned company has offered $690 million to buy out Zale Jewelers. Signet has offered to pay $21 a share on the New York Stock Exchange, which will give Zale’s 41 percent increase in premium when the stocks close. The total value of the deal will be worth around $1.4 billion.

Signet Jewelers

Signet Jewelers offers to buy out Zales jewelers for $690 million. Image Courtesy: Wikipedia

Signet is already the largest retail Jewelry store in the world and if this deal goes through it will make them the largest Jewelry store in the United States. With the merger Signet will acquire all the Zale’s jewelry stores, the People’s stores, which equates to 1700 stores across the U.S. Signet the speciality retail jewelry stores already operates Kay Jewelers and Jared the Galleria of Jewelry. If the combined deal gets done Signet will have 3,600 jewelry stores in Britain and the United States.

JP Morgan Chase Bank is expected to be the financial backer for Signet if the deal goes through. The deal would increase Signet’s earning by high single digit percentage over the first year. Golden State Capital owns about 22 percent of Zales in also in support of the deal. The merger still needs the approval from Zales shareholders to be completed.

Signet Jewelers Looks To Buy Out Zales For $690 million

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