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Fly News Breaks for May 12, 2016
QIHU
May 12, 2016 | 09:17 EDT
After Bloomberg indicated that Qihoo 360's go private deal could be derailed because of the purchasers' need to transfer funds offshore in several batches, Stifel says it's "very confident" that the deal will close. The firm says that Bloomberg is exaggerating the obstacle posed by the need to move funds offshore in multiple batches. According to the firm, that process is "no big deal" and "a mere administrative detail." Stifel keeps a $77 price target and Buy rating on Qihoo.
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