By  on May 15, 2014

With two weeks to go before its shareholders consider its proposed sale to Signet Jewelers Ltd., Zale Corp. Thursday shot back at a shareholder opposing its acquisition by Signet, saying the $1.4 billion takeover “provides compelling and immediate value” to its stockholders.

TIG Advisors LLC, which owns 9.5 percent of Zale’s outstanding stock, on Monday came out against the $21-a-share cash transaction and called it “grossly unfair” based on Zale’s projected growth trajectory. TIG said it would vote its shares against the deal at a special meeting of Zale shareholders to consider the proposed merger on May 29 and urged fellow shareholders to do the same or abstain from voting.

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