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UK: Signet Jewelers strikes gold with diamond merger

By  |  February 19, 2014

Signet Jewelers, the world’s largest jewelry retailer and parent company of Jared and Kay Jewelers, has announced the acquisition of diamond chain Zales, say reports.

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    The acquisition of the competing jeweler was struck for $1.4 billion.

    In a statement released Wednesday, UK-based Signet said the acquisition strengthens the company’s portfolio and will “accelerate” its performance.

    Reports say regulatory clearance for the merger is pending.

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