Zale Gets Regulatory Approval For Acquisition By Signet Jewelers

(RTTNews) - Specialty retail jeweler Signet Jewelers Ltd. (SIG.L, SIG) and Zale Corp. (ZLC) announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, 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.

In February, Signet Jewelers had agreed to acquire smaller rival Zale Corp. for $21.00 per share in cash in a deal valued at about $1.4 billion.