China's internet firm Sogou receives take-private offer from shareholder Tencent
July 27 (Reuters) - Sogou Inc SOGO.N said on Monday it has received a preliminary non-binding proposal from shareholder Tencent Holdings 0700.HK to acquire the internet firm's remaining outstanding shares for $9 apiece.
The cash offer represents a premium of 56.5% to Sogou's close of its U.S.-listed shares on Friday.
Chinese tech giant Tencent owns about 39.2% of the total issued and outstanding shares of Sogou.
(Reporting by Ayanti Bera in Bengaluru; Editing by Shinjini Ganguli)
((Ayanti.Bera@thomsonreuters.com; 646 223 8780 - 3401;))
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