Rbid.com to Be Sold to AHC Business Trust
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Laguna Hills-based Rbid.com Inc., a provider of Internet services, said Monday that it has agreed to be acquired by AHC Business Trust for an undisclosed sum.
Rbid.com said Nevada-based AHC will acquire 6 million of the 7.2 million shares outstanding, but would not say how much was paid. The agreement was reached last Thursday.
Also, Rbid.com directors Peter Ferras, Ann Ferras and John Horne resigned and were replaced by board members representing the new owners. The new directors included Horst Danning, Klaus Wagner-Bartak and Emilio Francisco.
Rbid.com founder James Ferras resigned as president and will take the role of president of marketing and product development. Wagner-Bartak assumed the role of president, while Danning became chairman and chief executive.
The company’s stock on Monday fell 25 cents, or 7%, to close at $3.13.
Rbid.com did not return calls.
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