Signet Pays $34 Million in Zale Valuation Suit Settlement

Signet Jewelers has settled a dispute with Zale Corp. shareholders over whether it paid the right price for the company last year.

Several shareholders, holding 8.8 million shares of Zale stock, had asked the Delaware Court of Chancery to determine a fair value of Zale.

The settlement doesn’t alter Signet’s purchase price of $21 a share for Zale, but it pays the petitioners an extra $34.2 million to be allocated among the group. The case was set to go to trial later this month.

JCK News Director