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SOHU - ChangYou: How To Trade The Privatization Deal
Sohu.com Limited
Investment Thesis
Sohu.com's (NASDAQ: SOHU) offer price at $10 for Changyou.com (NASDAQ: CYOU) is very generous, showing its determination of the privatization deal. Since SOHU has majority holding of CYOU's shares and voting rights, we believe this deal is a win-win situation for both sides. The privatization will eventually go through, either at the current offer price or at a higher adjusted price. So, we think the current $9 share price presents good opportunity to trade the acquisition deal. We suggest investors to go long CYOU at the current price and wait for