Signet Jewelers to Acquire Dallas-Based Zale Corp.

The Bermuda-based specialty jeweler will pay $690 million in cash to acquire the smaller rival jeweler.

Signet Jewelers, a Bermuda-based specialty jeweler that operates more than 1,400 U.S. stores under the Kay Jewelers and Jared the Galleria of Jewelry brands, announced Wednesday that it plans to acquire Dallas-Based Zale Corp. in a $690 million cash deal, The New York Times reports. The combined company has around $6.2 billion in combined sales.