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Sohu.com Announces Receipt by its Subsidiary Sogou of a Preliminary Non-Binding Proposal to Acquire Sogou

  • July 27, 2020

POTENTIAL DEAL DETAILS

StockSogou Inc.SymbolSOGO
Date Announced07/27/2020Source Press Release
TypeUnsolicited BidAcquiring Company/Person Tencent Parties
Date of Confirmation: 09/29/2020Price at Confirmation: $8.88
Potential Profit: 4.47%Annualized Profit: 25.50%

Sohu.com Limited (SOHU), China’s leading online media, video, search and gaming business group, announced that the board of directors of its subsidiary Sogou Inc. (SOGO) received a letter containing a preliminary non-binding proposal from Tencent Holdings Limited for Tencent to acquire all of the outstanding ordinary shares, including ordinary shares represented American depositary shares, of Sogou that are not already owned by Tencent or its affiliates for US$9.00 in cash per ordinary shareholder or ADS.

Update(s):

September 29, 2020: Sohu.com Limited (SOHU), China’s leading online media, video, search and gaming business group, announced today that its subsidiary Sogou Inc. (SOGO) has entered into a definitive Agreement and Plan of Merger with THL A21 Limited, TitanSupernova Limited, and Tencent Mobility Limited, each of which is a direct or indirect wholly-owned subsidiary of Tencent Holdings Limited, pursuant to which Parent will be merged with and into Sogou in an all-cash transaction, and Sogou will become an indirect wholly-owned subsidiary of Tencent.

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