Tulsa World- Breeden Capital Management LLC has boosted its stake in Zale Corp., the largest U.S. jewelry chain by number of stores, to 13 percent, as the retailer strugglesto regain market share.
Former Securities and Exchange Commission Chairman Richard Breeden and his hedge-fund company paid $118.4 million for its 5.94 million-share investment in Zale, the firm said Wednesday inan SEC filing. Breeden Capital previously owned a 7.7 percent stake and has held talks with unidentified managers.
The hedge-fund firm becomes the second-largest Zale shareholder, after Atlanta-based Shapiro Capital Management Co.
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