Glendon Group Buys Bidz in Cash Transaction
May 17, 12
(IDEX Online News) – Bidz.com has agreed to be bought by the Glendon Group for $0.78 per share in cash. The price represents a 59.2 percent premium over the Bidz's $0.49 share price.
The agreement, which will privatize the online jewelry retailer, is expected to close in the fourth quarter of 2012.
Under the agreement, the company is entitled to solicit alternative transaction proposals until June 25.