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.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"