Signet and Zale Corp Say Legal Waiting Period For Acquisition Ends

(IDEX Online) – Signet Jewelers Ltd and Zale Corp have announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the previously announced proposed acquisition of Zale by Signet.

The expiration of the HSR Act waiting period satisfies one of the conditions to the closing of the proposed acquisition, which remains subject to approval by Zale’s stockholders and certain other customary closing conditions.

Signet Jewelers Ltd, the largest specialty retail jeweler in the US and the UK, announced last November that it is to acquire Zale Corp, a leading specialty retailer of fine jewelry in North America for $1.4 billion.

Signet Jewelers is the largest specialty jewelry retailer in the US and UK. Signet's US division operates over 1,400 stores in all 50 states primarily under the name brands of Kay Jewelers and Jared The Galleria Of Jewelry. Signet's UK division operates approximately 500 stores primarily under the name brands of H.Samuel and Ernest Jones.

Zale Corp operates approximately 1,680 retail locations throughout the United States, Canada and Puerto Rico, as well as online. Zale’s brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda.