3 Merger and Acquisitions Stock Stories for Friday Due Diligence

Qihoo 360 Technology Co. (NYSE:QIHU): Current price $58.53

Qihoo reveals that it is in early negotiations with Sohu.com Inc. to acquire its Sogou search engine. If realized, the purchase is estimated to be worth as much as $1.4 billion, and could help the upstart control 25 percent of China’s search market. Qihoo, worth some $7 million, moved onto the scene in 2012, and has quickly worn away at Baidu Inc.’s dominance to become the country’s second biggest search engine firm, holding a 15 percent interest.

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Charter Communications Inc. (NASDAQ:CHTR): Current price $128.81

Charter, supported by John Malone, is working with Goldman Sachs Group Inc. to extend an offer for Time Warner Cable Inc., according to knowledgeable sources. The action implies that Charter Chief Executive Officer Tom Rutledge and Malone are seriously revisiting a potential merger, having been turned down by Time Warner Cable earlier in 2013, according to one source.

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Symantec Corp. (NASDAQ:SYMC): Current price $24.01

The Spanish news outlet Expansion said on Friday that Symantec has purchased Spain’s PasswordBank for $25 million, with the news confirmed by The Next Web. A spokesperson for the buyer said that “Symantec has acquired PasswordBank, a company with less than 20 employees based in Barcelona. PasswordBank is an independent provider of multifactor authentication, single sign on and user management services.” The person added that Symantec will employ PasswordBank’s “expertise” in single sign on tech to “enhance its secure sign on for web or cloud applications and further enhance its identity and context aware security, a key strategic initiative.”

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