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Stock Market & Financial Investment News

News Breaks
May 23, 2014
14:56 EDTSIG, ZLCTIG Advisors says ISS recommendation on Zale undershoots standalone value
TIG Advisors, a stockholder of Zale (ZLC) owning approximately 9.5% of its outstanding shares of common stock, responded to Institutional Shareholder Services' recommendation to Zale stockholders in respect of the proposed merger with Signet Jewelers (SIG) for $21 per share in cash, stating that it has filed a presentation with the SEC that details its concerns with ISS’ analysis and conclusions. TIG said, “We disagree with many of ISS’ fundamental assumptions and calculations in arriving at a value for Zale. ISS has unilaterally chosen to discount Zale Management’s downside case in arriving at a pre-announcement standalone value for Zale. ISS makes a mathematical error in calculating the implied share price. Using its own arguments but correcting its mathematical mistake, ISS should have concluded that Zale’s standalone price is ~$21.76, not the $15.60 that ISS claims. We believe this error is a major flaw that leads directly to ISS’ incorrect recommendation.”
News For ZLC;SIG From The Last 14 Days
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October 7, 2015
10:01 EDTSIGOn The Fly: Analyst Initiation Summary
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07:33 EDTSIGSignet Jewelers initiated with a Buy at Citi
Target $170.
October 2, 2015
06:42 EDTSIGMerrill Lynch to face class action over Zale sale, Reuters reports
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