Activist Client TIG Advisors Opposes Zale Merger
The Wall Street Journal, Forbes and other media sources reported on the launch by Olshan activist client, TIG Advisors, LLC, of a campaign in opposition to the announced merger between Zale Corporation and Signet Jewelers, the parent company of Kay Jewelers and Jared the Galleria of Jewelry. TIG Advisors, a significant stockholder of Zale with a 9.5% ownership stake, filed a detailed investor presentation with the SEC in support of its position that the offer of $21 per share in cash is inadequate and does not fairly reflect Zale’s improved standalone value and the significant synergies available from a merger of the two leading national jewelers. TIG Advisors also identified certain flaws in Zale’s evaluation process that persuaded TIG Advisors to campaign in opposition of the merger. Steve Wolosky and Ryan Nebel serve as legal counsel to TIG Advisors.