AuctionsOct 24, 2025
Bonhams Under New Ownership, Top Executives ReplacedLondon-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.
MajorsMay 28, 2014
Zale shareholders approve merger with Signet
The country’s two biggest specialty jewelers now are one. After weeks of defending the deal, Zale Corp. notched a huge victory Thursday when its shareholders voted in favor of combining the retailer with rival Signet Jewelers Ltd.
Kay Jewelers and Zales now are owned by the same company, after Zale Corp. shareholders approved the merger of the two companies in a vote that took place Thursday morning in Dallas.
Dallas--The country’s two biggest specialty jewelers now are one.
After weeks of defending the deal, Zale Corp. notched a huge victory Thursday when its shareholders voted in favor of combining the retailer with rival Signet Jewelers Ltd.
The vote took place Thursday morning at Zale’s headquarters in Dallas in a meeting The Dallas Morning News described as “sparsely attended.” Zale had not issued a statement on the vote as of press time Thursday.
The merger, a deal valued at $1.4 billion, will create a chain of more than 3,600 stores in the United States, United Kingdom and Canada, and bring some of the industry’s most well-known chain jewelers under the same umbrella of ownership: across-the-mall-hall rivals Kay Jewelers and Zales along with Piercing Pagoda and Jared the Galleria of Jewelry.
Though there were those that claimed the deal under-valued Zale, jewelry and diamond industry analyst Ken Gassman, who spent years on Wall Street as a securities analyst, said in the end he was not surprised that Zale’s shareholders approved it.
“There were enough shareholders who understand that if Zale is to survive, a merger with Signet is its best hope,” Gassman said Thursday.
New York-based hedge fund TIG Advisors, which owns a 9.5 percent stake in Zale Corp., had been pushing shareholders to vote against the acquisition, claiming that the retailer’s turnaround plan was working and that Zale was taking too low of a per-share price in a deal tainted by conflicts of interest.
Zale countered with a number of statements claiming TIG Advisors was disseminating inaccurate information about the deal, calling those involved in the fund “short-term opportunists” who were ignoring the risks not merging would place on long-term stockholders.
RELATED CONTENT: Zale ‘sets the record straight’ on Signet deal
Just before the vote, three shareholder proxy services that make recommendations on deals of this size weighed in on the proposed marriage of the two long-time rivals.
Two of the firms, Institutional Shareholder Services Inc. and Egan-Jones Proxy Services, recommended Zale shareholders vote for the merger while Glass Lewis & Co. said shareholders should vote against it.
More on Majors
The Latest
GradingOct 24, 2025
DMIA to Hold Diamond Testing Instrument DemoThe workshop will give attendees the chance to try out and ask questions about three different diamond verification instruments.
CrimeOct 24, 2025
Video Emerges of Louvre Jewelry Robbers Fleeing the Scene The footage shows two of the jewelry heist suspects descending from the second floor of the museum and then escaping via scooter.
Brought to you by
Are Earrings an Overlooked Category? What Retailers Need to Know NowAs the holiday season quickly approaches, consider stocking one category that sometimes gets overlooked: earrings.
CollectionsOct 24, 2025
Piece of the Week: Wyld Box Jewelry’s ‘Ray of Light’ EarringsFounder and designer Rosanna Fiedler looked to a vintage Cartier clutch when designing the sunlight-inspired drop earrings.
Weekly QuizOct 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsOct 23, 2025
Jewelry Sales Resilient Despite Struggles at LVMH, KeringThe luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.
SourcingOct 23, 2025
Petra Diamonds Turns to Shareholders to Raise Capital The struggling diamond mining company, which owns the historic Cullinan mine, has launched a rights issue to raise about $25 million.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
WatchesOct 23, 2025
‘Million Dollar Hip Hop Watches’ Recounts Watch HistoryThe book details the journey of watches as symbols of hard-earned success in hip-hop for artists like 2Pac, Jay-Z, and more.
AuctionsOct 23, 2025
Freeman’s | Hindman Names New VP, Senior Specialist for Jewelry & WatchesAlexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.
TrendsOct 22, 2025
The Taylor Swift Effect: Antique Diamonds EditionThe superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.
TrendsOct 22, 2025
Don’t Forget These Diamond Jewelry Trends When Stocking for the HolidaysRetailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.
AuctionsOct 22, 2025
Pink Diamond, Vanderbilt Jewels to Headline Phillips’ Geneva AuctionThe nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.
SourcingOct 22, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.
CollectionsOct 22, 2025
Tiffany & Co.’s ‘Bird on a Rock’ Finds New PerchChief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.
Events & AwardsOct 22, 2025
JFC Kicks Off Halloween Costume ChallengeFive dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.
Events & AwardsOct 22, 2025
Hillsborough Antique Show Gets New OwnerRecently acquired by KIL Promotions, the November edition of the public show in San Mateo, California, will be held Nov. 7-9.
GradingOct 21, 2025
GIA Examines Rare Bicolor Pink DiamondThe stone’s two zones, one pink and one colorless, may have formed at two different times, the lab said.
Lab-GrownOct 21, 2025
Grown Brilliance Opens First FlagshipThe New York City store showcases a chandelier with 1,500 carats of lab-grown diamonds designed by an FIT student.
Events & AwardsOct 21, 2025
‘Douriean Fletcher: Jewelry of the Afrofuture’ Opens at MADThe Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.
AuctionsOct 20, 2025
Sotheby's To Auction 10-Carat Vivid Pink DiamondMaking its auction debut, "The Glowing Rose" is expected to fetch $20 million at the November jewelry sale in Geneva.
SourcingOct 20, 2025
2 Mozambique Police Officers Killed at Gemfields’ Ruby MineThey were attacked on Oct. 15, as approximately 40 miners without licenses marched on the mine’s gate.
CrimeOct 20, 2025
See the ‘Priceless’ Jewels Stolen During Daytime Heist at the Louvre It took the masked thieves less than 10 minutes to steal eight irreplaceable jewels from two display cases in the museum’s Apollo Gallery.
SourcingOct 20, 2025
Pristine Gems Names New Director of European SalesGemologist Lauren Gayda has previously worked at The Clear Cut, Taylor & Hart, and Effy Jewelry.
IndependentsOct 17, 2025
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer will celebrate a milestone only a small percentage of family-owned businesses survive to see.
Events & AwardsOct 17, 2025
An Edit of Italian Jewels Is Coming to NYCThe new showcase dedicated to Italian jewelry design is set for Oct. 29-30.
TrendsOct 17, 2025
Piece of the Week: Judi Powers Jewelry’s ‘Stella’ EarringsTake a gaze at the sky with this pair of platinum diamond-set star earrings with blue lace agate drops.
