Newspaper article International New York Times

Chinese Internet Security Firm Goes Private in $9.3 Billion Deal

Newspaper article International New York Times

Chinese Internet Security Firm Goes Private in $9.3 Billion Deal

Article excerpt

The agreement values the Chinese internet security firm at a premium of 16.6 percent from the closing price of its American depositary shares the day before it proposed the move.

The Qihoo 360 Technology Company, a Chinese Internet security firm, said on Friday that it had agreed to be taken private and bought by a consortium of investors for about $9.3 billion.

The deal represents a premium of 16.6 percent to the closing price of the company's American depositary shares on June 16, the day before it proposed going private. It also represents a premium of 32.7 percent to the average closing price of the company's depositary shares in the 30 days before the proposal.

Each Class A and Class B share in China will be exchanged for $1. …

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