Market Overview

TIG Urges Zale To Reject Signet Bid

Share:
Related ZLC
Glass Lewis Recommends Zale Shareholders Vote AGAINST Merger with Signet
Glass Lewis Says Shareholders Should Vote Against Signet
Related SIG
10 Stocks Moving In Thursday's Pre-Market Session
7 Stocks To Watch For March 24, 2016

Shares of diamond retailer Zale (NYSE: ZLC) on Friday jumped three percent to $21.81 and turned positive after TIG Advisors urged shareholders of Zale to ‘oppose' the Signet Jewelers (NYSE: SIG) bid.

TIG said it believes the value should be at least $12.50/share in cash plus 0.158 SIG shares, representing a total value of ~$28.60/share of ZLC.

Additionally, the company filed a 13D which showed a 9.5 percent stake in Zale, and also included the language it "opposes" the company's merger with Signet Jewelers.

Shares of Signet Jewelers are down one percent to $100.94.

Posted-In: TIG AdvisorsNews

 

Related Articles (SIG + ZLC)

View Comments and Join the Discussion!