Qihoo 360 Technology Co. Ltd., China’s largest internet security service provider listed in the U.S., will delist from the New York Stock Exchange via a buyout deal at a market value of USD 9 billion in the coming weeks.
Qihoo 360 is close to reaching a deal with an investment group led by Qihoo Chairman Hongyi Zhou, the Wall Street Journal and Bloomberg reported early this week. In June, the group made a preliminary offer to buy the Chinese Internet-security company.
If successful, this would be the biggest management buyout of a US-listed Chinese company, reported Bloomberg. Qihoo 360 is planning to go public in China immediately after the buyout.