Qihoo 360 Technology Co Ltd (NYSE:QIHU) stock is up today.
News of a potential buyout of the company caused shares of the company to surge in early trading Wednesday. A group is looking to buy out the company for $9.01 billion, or $77 per American depository share.
The group includes Qihoo Chairman and CEO Zhou Hongyi. If successful, the deal would be the largest take-private deal of a U.S.-listed Chinese company.
QIHU stock is up 6.82% Wednesday. Company shares are selling at $70.51 Wednesday afternoon.