Legal News

Signet to Acquire Retail Jeweler Zale Corporation
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

The largest specialty retail jeweler in the US and the UK, Signet Jewelers, and Zale Corp., another fine jewelry retailer in North America, have entered into an agreement for Signet to acquire all of the issued and outstanding stock of Zale for $21 per share in cash consideration. This transaction brings together two of today’s leading jewelry retailers. Zale Corp. has 1,680 retail locations in the US, Canada and Puerto Rico. Its brands include Zales Jewelers, Zales Outlet, Gordon’s Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda. Forbes has reported that the deal is estimated to have an enterprise value of $1.4 billion. It has also been reported that this merger will create a $6.2 billion firm.

Mike Barnes, Signet’s Chief Executive Officer, stated that “This transformational acquisition further diversifies our businesses and extends our international footprint, opening the door to greater growth and innovation across the enterprise.” Zale CEO, Theo Killion, reported that “Having successfully completed our multi-year turnaround program to return to profitability, Signet’s operating strengths will enable us to accelerate Zale’s performance improvement for the benefit of our current and future guests,” according to Market Watch.

  
What
Where


The purchase marks the biggest acquisition yet for Signet, reported Bloomberg News, which also shared that investor’s, applauded the deal and Signet’s stock up is 17 percent to $92.79. The transaction is subject to Zale stockholder approval, certain regulatory approvals as well as customary closing conditions.

For information on employment opportunities with Signet, readers can click here.

Image Credit: www.usatoday.com

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-Level Commercial Business Litigator

USA-CA-Los Angeles

Los Angeles office is seeking a commercial business litigation attorney with 2-5 years of experience...

Apply Now

Senior Level Litigator

USA-CA-Woodland Hills

Woodland Hills office is seeking a litigation attorney with 5-7 years of experience and a background...

Apply Now

Litigation Associate Attorney

USA-CT-Stamford

Stamford office of our client seeks litigation associate attorney with 3+ years of experience. The c...

Apply Now

Experienced Estate Planning Attorney

USA-CA-Torrance

Torrance office is seeking an estate planning attorney with 7-10 years of experience.

Apply Now

RELEVANT JOBS

Attorney

USA-WA-Woodinville

The ideal candidate will have 2-3 years’ experience as an attorney, who is passionate about br...

Apply now

Legal Secretary / Paralegal

USA-UT-Ogden

Have need of a legal secretary / paralegal to prepare legal documents for court filing and estate pl...

Apply now

Medical Malpractice Associate

USA-CA-Los Angeles

Downtown Los Angeles medical malpractice defense firm seeks 2-4 year associate attorney with persona...

Apply now

Immigration Attorney

USA-CA-Anaheim

Responsibilities: Make appearances in immigration court at Master Calendars and Individual Hea...

Apply now

SEARCH IN ARCHIVE

To Top