Bidz.com, an online jewelry retailer, has entered into a merger agreement with Glendon Group.

Glendon Group will acquire Bidz.com for $0.78 per share in cash. The proposed transaction is expected to close in the fourth quarter of 2012.

At the transaction’s completion, Bidz.com will become a privately held company and its stock will no longer trade on the Nasdaq Capital Market.

For more coverage on Bidz.com, check out:

• Bidz.com Revenue Drops 27% in Q1
• Bidz.Com Filing Raises New Doubts

JCK