Investor Moves To Block Zale Sale To Signet Jewelers, Calls $1.4 Billion Deal 'Grossly Unfair'

Calling Signet Jeweler's $21-per-share offer for the Zale Corporation "grossly unfair," TIG Advisors revealed a 9.5% stake in Zale Friday afternoon, saying that it intends to vote against the Zale's proposed merger with Signet Jewelers, the parent company of Kay Jewelers and Jared the Galleria of Jewelry.