{"id":15659,"date":"2014-02-20T08:40:36","date_gmt":"2014-02-20T13:40:36","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=15659"},"modified":"2014-02-20T07:54:27","modified_gmt":"2014-02-20T12:54:27","slug":"zale-corporation-nysezlc-bought-for-690-million-by-signet-jewelers","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/zale-corporation-nysezlc-bought-for-690-million-by-signet-jewelers-15659","title":{"rendered":"Zale Corporation (NYSE:ZLC) Bought for $690 Million By Signet Jewelers"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 02\/20\/2014 (wallstreetpr) &#8211;\u00a0Signet Jewelers a specialty in Jewelries has agreed to acquire <b>Zale Corporation (NYSE:ZLC) <\/b>for a total amount of $690 million, a deal that will see it expand its market share in the US and Canada. The acquisition will see the merger of some of the best brands in the jewelry industry such as Zales, Kay jewelers and Jared the Galleria of Jewelry.<\/p>\n<p style=\"text-align: justify;\">The combined partnership between the two companies is expected to command a total of $6.2 billion in annual sales. The deal could not have come at a better time as Zale Corporation (NYSE:ZLC) was trying its level best to recover from the effects of the hard hit economic turmoil of 2008. It is only recently that the company has started recording substantial profits after engaging in a turnaround plan in 2010. Zale commands over 1,600 retail stores across North America which will now fall under Signet Jewelers<\/p>\n<p style=\"text-align: justify;\"><b>Terms of the deal<\/b><\/p>\n<p style=\"text-align: justify;\">Signet Jewelers as part of the purchase agreement, has agreed to pay $21 a share for Zale outstanding shares which will amount to the total purchase price of $690 million. This represent a 41% premium as of Tuesday Zale share closing price, the deal also involves a debt amounting to $1.4 billion. Zale in the fiscal year ending July 31, 2013 recorded total revenues totaling $1.89 with Signet Jewelers edging it at $3.98 billion.<\/p>\n<p style=\"text-align: justify;\">Signet has been planning for some time for the acquisition of Zale, especially after it returned to profit making ways. The deal is almost through, only awaiting regulatory and customary closing conditions. Signet new acquisition will give it the much needed footing of the Canadian market that Zale Corporation (NYSE:ZLC) has been controlling over the past years. The deal also comes with popular jewelry brands like Vera, Wang Love, and Celebration Diamond that Signet has been yearning, for quite some time to own.<\/p>\n<p style=\"text-align: justify;\">Zale Corporation (NYSE:ZLC) was impressive in Tuesday trading session moving up by 40.31% to close the day at a high of $20.92<\/p>\n<p style=\"text-align: justify;\">Zynga Inc. (NASDAQ:ZNGA) settled on a share price of $5.07 on Tuesday trading session having dropped by 1.55%<\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 02\/20\/2014 (wallstreetpr) &#8211;\u00a0Signet Jewelers a specialty in Jewelries has agreed to acquire Zale Corporation (NYSE:ZLC) for a total amount of $690 million, a [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":15660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[1338,2233],"stock_ticker":[],"class_list":["post-15659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nysezlc","tag-zale-corporation-nysezlc","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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