US Markets

China's internet firm Sogou receives take-private offer from shareholder Tencent

Credit: REUTERS/TYRONE SIU

Sogou Inc said on Monday it has received a preliminary non-binding proposal from shareholder Tencent Holdings to acquire the internet firm's remaining outstanding shares for $9 apiece.

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;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

SOHU

Latest Markets Videos

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More