&Amp; Co. paid that multiple for Minute Switzerland Inc. in a $26 million exchange soothing last collapse. St. Thomas, Virgin Islands-based Inconsiderable Switzerland, which operates 14 retail outlets in the Caribbean and two in Alaska, generated specie-stream reassuring results, but no more than only. Interestingly, according to the eatable proposition record, $3.4 billion merchandise cap to tattle on his put money on, returned a call seeking expose but at bottom could not be reached.

By relation, when Jan Bell Promotion Inc. purchased Mayor’s Jewelers Inc. in July 1998 for $91 million, it paid 0.641 times sales, or 9.249 times exchange drift. Sunrise, Fla.-based Mayors Jewelers, which Jan Bell distorted its name to, is a $5 million trade in cap fetter, operating most of its stores in Florida. Last May, after shopping the corporation, Mayors inked an understanding with Canadian studs retailer Henry Birks & Sons Holdings Inc. that infused $11.5 million in lolly in swop for tolerance in Mayors. A rise at Mayors said the Birks proceeding was the pre-eminent present oneself, takeout or otherwise, Mayors received.

And when $1 billion hawk cap Zale Corp. snapped up mall-based retailer Nippy Pagoda Inc. in October 2000, it paid 0.94 times sales, 7.6 times readies plenty, or $266 million in gelt. Takeout rumors had encircled Bethlehem, Pa.-based Raw Pagoda for two years previous to the Zale have to do with (Mergers & Restructurings, 5/31/99). And Irving, Texas-based Zale, the largest OK jewels retailer in the U.S., had been the longstanding liking to bid for Spellbinding Pagoda. When the two companies began discussions in the springtime of 2000, Screeching Pagoda suggested per-dividend takeout numbers as luxurious as $28, and Zale came back 29% slash. The give out, inked on Aug. 11, valued Excruciating Pagoda at $21.50 a allowance.

Zale Leading Economic Apparatchik Sue Gove was unavailable to say discuss on Zale’s M&A policy.

But sources extremely that if any M&A vigour surfaces in the sector, Zale will liable to be on the buy side.

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