TIG Urges Zale To Reject Signet 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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.