M. Fabrikant & Sons and Leer Gem are forming a new jewelry and solitaire company called Fabrikant-Leer International. The new entity will be a subsidiary of Fabrikant. Leer Gem will no longer be an independent entity. Larry Weinman, owner-partner of Leer Gem, will serve as managing partner of the new entity, and Ira Bergman, a Fabrikant executive, will serve as president. “Our core focus will be exclusive private-label products and branding initiatives,” Matthew Fabrikant Fortgang, chief executive officer of Fabrikant, told JCK.

May Department Stores Co. and Federated Department Stores will reportedly seek endorsement of a planned $11 billion merger from shareholders this month. The deal requires approval by the Federal Trade Commission and is expected to be completed in the third quarter.

Neiman Marcus is set to be sold for $5 billion, The New York Times reports. The buyers are Texas Partners, an equity firm that also owns J. Crew, and another equity firm, Warburg Pincus.