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Zalemark Calls-off Merger with Novori

Jul 18, 2008 6:04 AM   By Jeff Miller
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RAPAPORT... In a newsletter to its business associate base, diamond jewelry designer and manufacturer Zalemark Inc. reported that the proposed merger with online retailer Novori Inc. was off.

"Zalemark's legal and management team, during the due diligence and standstill agreement, determined that Novori Inc. was not a suitable merging partner," according to the note dated July 17.

Management went on to say that a proposal with another company, a "well-known and widely traded Nasdaq jewelry company," was being reviewed this month.

 

Tags: Jewelry, Zale
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