Forex Woes Force Qihoo to Extend Privatization Deadline

(Beijing) – A leading Chinese security software maker aiming to privatize from New York and relist its shares in China said the group leading its buyout will miss a deadline to close what could become the largest deal in a wave of U.S.-listed Chinese firms seeking higher valuations at home.

The group attempting to privatize Qihoo 360 Technology Co. Ltd. informed the company that it now expects to close the privatization by mid-August, according to a press release on June 28.