15th May 2014 12:54
LONDON (Alliance News) - Zale Corp. reiterated its commitment to the pending merger with Signet Jewelers Limited, under which Zale stockholders would receive USD21.00 per share in cash.
The company recommended its stockholders vote in favor of the Signet transaction at the May 29, 2014 special meeting of stockholders.
Zale Corp. stated that Signet's USD21.00 per share all cash consideration provides certainty of value and eliminates the risks to Zale stockholders of failing to achieve the company's three-year business plan. Since the transaction was announced on February 19, 2014, no other parties have expressed interest in acquiring the company, Zale noted.
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