Zale Corp., which has been restructuring itself, announced the sale of its O.G.
Zale Corp., a jewelry retailer with over 1,500 outlets worldwide, said it received an unsolicited
Peoples Jewellers Ltd. of Toronto and Swarovski International Holding AG of Zurich completed their joint tender offer to acquire the Dallas-based jewelry retailer for about $560 million.
Despite People's Jewellers Ltd. raising its bid for Zale to more than $474 million, the nation's
Peoples Jewellers of Toronto to buy the 85% of Zale that it does not already own.
million and raises the cash portion of its previous bid, but Zale denounced it as inadequate.
The offer by Toronto-based Peoples and its partner, Swarovski International Holding A.G. of Zurich, Switzerland, is valued at $550 million.
Zale Corp., the world's largest jeweler, came to the realization two years ago that there wasn't as much gold in them thar diamonds as there once was.
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