British May Buy U.S. Jewelry Chain: Ratners...
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From Times Staff and Wire Reports
British May Buy U.S. Jewelry Chain: Ratners Group PLC of London is expected to announce today that it is acquiring Kay Jewelers Inc., the United States’ last large independent jewelry chain, for $400 million in stock, the New York Times reported. Ratners, the world’s biggest jewelry retailer, already operates Sterling stores in the United States. Kay’s 400 stores will give Ratners 970 American outlets, enabling it to mount a strong challenge to the largest U.S. chain, Peoples Jewellers Ltd. Toronto-based Peoples has 1,100 American stores.
