Shares of Signet Jewelers Limited (SIG) gained 3.2% in Tuesday’s early trade after the company announced its plans to acquire Diamonds Direct USA Inc. in an all-cash deal of $490 million. The company engages in the retailing of jewelry, watches and associated services. Diamonds Direct is an off-mall, destination jeweler in the U.S. The deal is expected to close in the fourth quarter of Fiscal Year 2022, subject to customary closing conditions and regulatory approval.  Signet expects the deal to be immediately accretive. It plans to drive operating synergies by leveraging scale in purchasing, targeted marketing, connected commerce and jewelry services.
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Signet Jewelers (NYSE:SIG)
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