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May 23, 2014
12:57 EDTSIG, ZLCTIG Advisors files definitive proxy materials to oppose Zale merger with Signet
TIG Advisors, a stockholder of Zale Corporation (ZLC), owning approximately 9.5% of its outstanding shares of common stock, today filed definitive proxy materials with the SEC in connection with the special meeting of Zale stockholders scheduled for May 29 to consider the proposed merger of Zale with Signet (SIG) for $21 per share in cash. TIG Advisors urges all shareholders to join it in voting AGAINST Signetís inadequate $21 per share offer for Zale. "Our public filings with the SEC detail the many flaws in the valuation of Zale and the negotiation of the agreement, that led us to oppose the transaction, including: Proposed merger consideration is inadequate and below the standalone value of Zale; Use of an inappropriate share price benchmark to value the transaction, at a time when Managementís projections for the company were not known to investors; Potential conflicts of interest with Golden Gate Capital as a result of the inclusion of Golden Gateís representative on the negotiation committee."
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