Rue21 'Go-Shop' Period Ends Without a Bid

The Cranberry-based clothing company Rue 21 announced Wednesday that the "go-shop" period called for under its agreement to sell itself to a private equity firm has expired, putting the $1 billion sale on track to go through by the end of 2013.

Rue21 and its advisors was allowed to seek out competing bids until Tuesday. The company contacted 60 potential buyers, with six of the potential buyers entering into talks, but none of them submitted a bid.

Rue21 also said the Federal Trade Commission has cleared the merger.