Bidz Acquisition by Glendon Group Approved

(IDEX Online News) – The stockholders of Bidz.com have approved the merger agreement of the online jewelry auctioneer and retailer with the Glendon Group. The votes took place on September 27.

Upon completion of the merger, Bidz will become a privately held company and its stock no longer trades on the NASDAQ exchange.

Founded in 1998, Bidz offers its products through a live auction format as well as a fixed price online retail store. Bidz also operates Modnique.com, a flash sale shopping website, offering authentic premium brand name merchandise.

In the past few years, it suffered from losses and faced delisting from NASDAQ.