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Stock Market & Financial Investment News

News Breaks
May 9, 2014
14:48 EDTSIG, ZLCTIG Advisors opposes Zale merger with Signet Jewelers
TIG Advisors, a stockholder of Zale Corporation (ZLC), owning approximately 9.5% of its outstanding shares of common stock, intends to vote against Zale’s proposed merger with Signet Jewelers (SIG) at the upcoming special meeting of stockholders scheduled to be held on Thursday, May 29. TIG Advisors intends to file a preliminary proxy statement with the SEC in connection with its solicitation of proxies against the Zale Merger. TIG Advisors urges all fellow shareholders to join it in voting AGAINST the proposed merger. Shareholders may also choose to withhold quorum by not voting on the merger and thus delay their vote on the proposed merger until a later date. “We believe the current offer price of $21 per share is grossly unfair to current shareholders. Shareholders are not being paid a fair value for the margin expansion opportunity they already own, much less a premium. The transfer of value to Signet shareholders and the lopsided sharing of deal synergies could not be seen more clearly than by comparing the $1.4B of value accretion that Signet shareholders have enjoyed versus the $286M premium paid for Zale shares. Said another way, Signet holders have benefited 5x the amount that Zale holders have,” said Drew Figdor, Portfolio Manager.
News For ZLC;SIG From The Last 14 Days
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June 25, 2015
06:57 EDTSIGSignet Jewelers weakness a buying opportunity, says Nomura
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05:44 EDTSIGSignet Jewelers pullback a buying opportunity, says Nomura
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June 24, 2015
08:54 EDTSIGSignet Jewelers repeats Q2 adjusted EPS view $1.11-$1.16, consensus $1.15
Sees Q2 SSS up 2%-3%. Sees FY16 CapEx $275M-$325M, effective tax rate 28%-29%, net selling square footage growth 2%-3%. Says company's biggest opportunities for market share remain in the U.s. Sees $150M-$175M in cumulative 3-year operating profit synergies by end of January 2018. Says majority of synergies will be achieved by Zale division. By end of FY18, says Zale division expected to be at 9% operating margin. Says synergies alone will help achieve medium-term operating margin milestone. Comments from slides that will be presented at the company's Institutional Investor Conference.

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