- Proxy service ISS recommends shareholders of Zale (NYSE:ZLC) vote in favor of a sale of the company to Signet SIG.
- The deal is being struck at a fair price, according to ISS.
- The development is good news for Zale which just sent a letter to TIG Advisors defending the sale price in response to a heated back-and-forth discussion with TIG over the deal.
- Zale closed at $22.69 yesterday vs. the Signet offer of $21.