bid vs. bidding

[ggomad]

After all the commotion, the successful bidding has yet to be formally accepted by the chief executive officer.

Is 'bidding' a wrong choice of word in the above sentence?

[Tdol]

I'd use 'bid' or 'bidder', not'bidding' because we are interested in the people or the content of their bid, not the action of making it.