Signet and Zale Won't Merge

June 14, 2006

Signet and Zale Won't Merge

Only hours after Zale Corp. and Signet Group leaked the possibility of a merger, the two jewelry retail groups announced Monday that talks of joining forces already broke off.

According to The Mail on Sunday, a British newspaper, Zale approached British retailer Signet about a possible deal that would most likely involve Signet taking over Zale, which has faced a number of challenges lately.

However, Signet promptly quieted further rumors of the takeover with a release. "Signet confirms that discussions regarding a possible merger with Zale Corp have been terminated," the company said in a statement Monday.

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