Key Developments: Zale Corp (ZLC.N)

ZLC.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Signet Jewelers and Zale Corporation announces expiration of HSR Act Waiting Period
Monday, 7 Apr 2014 09:10am EDT 

Signet Jewelers Ltd:Says expiration of the waiting period with Zale Corporation, under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the previously announced proposed acquisition of Zale by Signet.Expiration satisfies one of conditions to the closing of the proposed acquisition.  Full Article

Signet Jewelers Ltd to acquire Zale Corporation
Wednesday, 19 Feb 2014 07:02am EST 

Signet Jewelers Ltd and Zale Corporation:Says they have entered into a definitive agreement for Signet to acquire all of the issued and outstanding stock of Zale for $21.00 per share in cash consideration.Says Signet's offer represents a premium of 41pct over Zale's closing price as of Feb 18.Says the transaction would be valued at about $1.4 billion.Says the acquisition is expected to be financed through bank debt, other debt financing and the securitization of a significant portion of Signet's accounts receivable portfolio.Says J.P. Morgan Securities LLC acted as exclusive financial advisor and provided a fairness opinion to the board of Signet and J.P. Morgan Chase Bank, N.A. committed to provide bridge financing for the transaction.Says Weil, Gotshal & Manges LLP acted as legal counsel to Signet in connection with the transaction.Says BofA Merrill Lynch acted as exclusive financial advisor and Cravath, Swaine & Moore LLP acted as legal counsel to Zale in connection with the transaction.  Full Article

Sterling Jewelers and Zale Corp Announce Settlement
Friday, 6 Sep 2013 03:27pm EDT 

Sterling Jewelers Inc. and Zale Corp announced that with respect to the lawsuit pending in The United States District Court for the Northern District of Ohio, styled Sterling Jewelers Inc. v. Zale Corp., Civ. No. 5:12-cv-02823, the parties have agreed to a negotiated resolution of the case which will go into full force and effect as of March 1, 2014. The details regarding the settlement are confidential and will not be disclosed.  Full Article

Zale Corp Names Ex-Signet CEO Burman Chairman-DJ
Wednesday, 22 May 2013 08:04am EDT 

Dow Jones reported that Zale Corp named former Signet Jewelers Ltd. Chief Executive Terry Burman as its Chairman. His appointment to Zale's board becomes effective May 31. John B. Lowe Jr., who has served as Chairman for the past five years, will remain on the board.  Full Article

Zale Corp Announces Appointment Of Chairman
Wednesday, 22 May 2013 07:30am EDT 

Zale Corp announced that Terry Burman has been appointed as a director and as Chairman of the board, effective May 31, 2013. John B. Lowe, Jr., who has served as Chairman for the past five years, will remain on the board.  Full Article

Zale Corp Reaffirms FY 2013 Net Income Guidance
Wednesday, 22 May 2013 07:30am EDT 

Zale Corp announced that it expects to achieve positive net earnings for fiscal 2013. According to I/B/E/S Estimates, analysts are expecting the Company to report net income of $6.32 million for fiscal 2013.  Full Article

Zale Corp Reaffirms FY 2013 Net Income Guidance
Thursday, 21 Feb 2013 07:29am EST 

Zale Corp announced that for fiscal 2013, it expects to achieve positive net earnings. According to I/B/E/S Estimates, analysts are expecting the Company to report net income of $7.02 million for fiscal 2013.  Full Article

Zale Corp Reaffirms FY 2013 Net Income Guidance
Thursday, 10 Jan 2013 07:30am EST 

Zale Corp announced that as previously announced, the Company expects to achieve positive net income for fiscal 2013.  Full Article

Zale Corp Reaffirms FY 2013 Net Income Guidance
Tuesday, 20 Nov 2012 04:05pm EST 

Zale Corp announced that for fiscal 2013, the Company expects to achieve positive net income. According to I/B/E/S Estimates, analysts were expecting the Company to report net income of $11.94 million for fiscal 2013.  Full Article

Zale Corp Issues FY 2013 Net Income Guidance In Line With Analysts' Estimates
Wednesday, 29 Aug 2012 07:30am EDT 

Zale Corp announced that for based on the current momentum of the business and the recent debt refinancing, the Company expects to achieve positive net income for fiscal 2013. The Company reported net loss from continuing operations of $27 million, or $0.84 per share in fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report net profit of $5.16 million for fiscal 2013.  Full Article

Kay Jewelers parent Signet to buy rival Zale for $690 million

- Signet Jewelers Ltd is buying smaller rival Zale Corp for about $690 million, an acquisition it said would strengthen its place in the U.S. jewelry sector and let it tap new markets.

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