Reuters: Private Equity: UPDATE 1-Jewelry retailer Bidz.com to go private

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UPDATE 1-Jewelry retailer Bidz.com to go private May 17th 2012, 21:52 Thu May 17, 2012 5:52pm EDT May 17 (Reuters) - Online jewelry retailer BIDZ.com Inc said it will be taken private by Glendon Group Inc, valuing the company at about $14.3 million. 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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