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Reuters
Published
May 21, 2012
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Jewelry retailer Bidz.com to go private

By
Reuters
Published
May 21, 2012

Online jewelry retailer Bidz.com Inc said it will be taken private by Glendon Group Inc, valuing the company at about $14.3 million.


Bidz.com's online auction site


Glendon will pay 78 cents per share, which represents a premium of about 60 percent to Bidz's Wednesday closing price.

The company said some stockholders, with a stake of about 37 percent, have agreed to vote in favor of the merger.

Bidz said Glendon has obtained sufficient financing commitments to complete the merger.

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