This morning, Signet Jewelers (NYSE:SIG) announced that it would acquire Zale (NYSE:ZLC) for approximately $690 million, or $21 per share. Including debt, the deal's value balloons to $1.4 billion and represents a 40% premium to yesterday's closing price. While the deal requires the approval of shareholders, Signet said it had already entered into an agreement with Golden Gate Capital to support the deal. Golden Gate Capital owns approximately 22% of Zale. On the news, shares of Zale were higher by more than 40% while Signet climbed more than 13% on the news.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.