Signet reportedly in talks to join consortium for De Beers, shares rise
SIG•Signet Jewelers shares rose as much as 4.1% to $112.36 as the retailer reportedly held talks to join a consortium bidding for De Beers, valued at about $1 billion.
1. Consortium talks
Signet Jewelers is in talks to join a consortium bidding for De Beers, which is being sold by Anglo American and valued at about $1 billion. Richemont, the owner of Cartier, is also in talks to join the bid, with negotiations advanced but no guarantee it will join.
2. Shares gain
Signet shares rose as much as 4.1% to $112.36, their highest since 2016. They were up about 30% year to date as of the previous close.
