News & Announcements

Weil Advises Signet Jewelers in $1.4B Acquisition of Zale

A Weil team is advising Signet Jewelers Limited, the largest specialty retail jeweler in the United States and the United Kingdom, in the company’s $1.4 billion acquisition of Zale Corporation, a leading specialty retailer of fine jewelry in North America. The transaction is subject to stockholder approval, certain regulatory approvals and customary closing conditions.

The acquisition brings together two of today's leading jewelry retailers, with six of the most recognizable brands across three countries: Kay Jewelers, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Zales, and Peoples. The two companies have combined sales of $6.2 billion.

The Weil team on this transaction includes Corporate partners Andrea Bernstein and Michael E. Lubowitz and associates Jennifer Cheng, Gabriel Gershowitz, Jamie W. Lurie, Mike Ray, and Dening Kong (not yet admitted to practice) (all in New York); Antitrust partner Steven Newborn (Washington, DC), associate Brianne Kucerik (Washington, DC), and Jane Cooper (not yet admitted to practice) (New York); Tax partner Helyn S. Goldstein and associate Andrew C. Pelzer (both in New York); Employee Benefits partner Amy M. Rubin, associate Joshua Gelfand, and Amanda Rosenblum (not yet admitted to practice) (all in New York); Technology & IP Transactions partner Michael A. Epstein and associate Adrian J. Perry (both in New York); IP/Media Litigation partner Randi Singer (New York); and Banking & Finance partner Daniel Dokos, counsel Ariel Kronman, and associates Alicia Alterbaum, Daniel Lee, Eugene J. Ng, and Peter T. Puk (all in New York).

The news was reported in the following outlets (may require registration/subscription):

  • The Deal: Signet proposes $1.4B Zale acquisition (February 19, 2014)
  • The New York Times DealBook: Signet Jewelers to Buy Zale in $690 Million Deal (February 19, 2014)
  • Bloomberg: Signet Jewelers Agrees to Buy Zale in $1.4 Billion Deal (February 19, 2014)
  • Bloomberg Businessweek: Signet to Acquire Zale in $1.4 Billion Deal (February 19, 2014)
  • Reuters: Kay Jewelers parent Signet to buy rival Zale for $690 million (February 19, 2014)
  • Law360: Signet Jewelers To Acquire Zale For $690M In Cash (February 19, 2014)
  • TheStreet.com: Golden Gate Capital Backs Signet's $1.4B Zale Corp. Takeover (February 19, 2014)
  • StreetInsider.com: Signet Jewelers (SIG) to Acquire Zale (ZLC) for $21/Share (February 19, 2014)
  • Global Competition Review: Online sales could hold key to FTC jewellery review (February 20, 2014)
  • Law360: Taxation With Representation: Tax Counsel On The Deal (February 21, 2014)

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