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Thursday, July 28, 2005

Shopping.com Purchase Approved

Shareholders of Internet price-comparison company Shopping.com Ltd. approved Thursday a proposed $620 million takeover by online auction house eBay Inc.

Shopping.com expects the deal to close around Aug. 30, the company said in a Securities and Exchange Commission filing.

Shopping.com didn't disclose the vote tally at the special shareholder meeting called to consider the eBay deal.

Last month, eBay, of San Jose, Calif., agreed to pay $21 a share for Shopping.com, an Israeli operator of a Web site which allows consumers to compare product prices across the Internet.

Another shopping comparison company, Shopzilla, was acquired by E.W. Scripps Co. last month for $525 million.

Separately, Shopping.com also said in the SEC filing that shareholders approved a $1 million bonus for Chief Executive Lorrie Norrington. The bonus will be paid immediately before the consummation of the merger, Shopping.com said.

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