Qihoo 360 CEO Hongyi Zhou and other shareholders offer to buy the Chinese Internet company for $77 a share on Wednesday to bring it private. The offer represents a 16.6% premium over Qihoo 360's Tuesday closing price of $66.05 a share.
More than a dozen Chinese companies received buyout offers from executives this year, with Qihoo 360 being the largest of the group, according to Barron's.
E-Commerce China DangDang is a Chinese e-retailer that sells books, audio-visual products, periodicals, cosmetics, home appliances, consumer electronics and other general merchandise.
About 2.8 million shares of E-Commerce China DangDang were traded by 12:17 p.m. Wednesday, above the company's average trading volume of about 1.6 million shares a day.
TheStreet Ratings team rates E-COMMERCE CH DANGDANG -ADR as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate E-COMMERCE CH DANGDANG -ADR (DANG) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, unimpressive growth in net income and poor profit margins."