Benzinga's M&A Chatter for Thursday August 29, 2013
The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday August 29, 2013:
Microsoft Reportedly in Discussions Regarding Strategic Stake in Foursquare
Microsoft (NASDAQ: MSFT) is reportedly in discussions to acquire a strategic stake in social media company Foursquare, according to Bloomberg. A Foursquare investment would give and inroad into social media and mobile.
Microsoft closed at $33.55 Thursday, a gain of 1.5%.
Sina Acquires Xuan Guoke
Sina.com (NASDAQ: SINA) has acquired online literature site Xuan Guoke and merged the company with Sina Yuedu, according to Marbridge Daily. The news was reported on Xuan Guoke's website.
Sina closed at $79.57 Thursday, a gain of 1.8%.
Qihoo Says $550M Bond Sale Not for Sogou Acquisition
The Bond Sale:
Qihoo 360 (NYSE: QIHU) raised $550 million on Wednesday via a convertible bond sale. There was speculation that the proceeds might be used to acquire Sohu's (NASDAQ: SOHU) Sogou search unit, but it was denied by Qihoo, according to View TechInAsia.
Qihoo did confirm on July 19, they were in talks with Sohu regarding Sogou.
Qihoo 360 closed at $79.46 Thursday, while Sohu gained $0.04, closing at $63.44.
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