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SOGO - Third Attempt To Acquire Changyou - If Not Now Then Never
Sogou Inc. American Depositary Shares each representing one Class A
Current price: $9.50
Offer price: $10.00
Upside: 5%
On the 9th of September 2019 online gaming company Changyou.com (CYOU) has received a non-binding acquisition proposal at $5/share or $10 per ADS share from its parent company Sohu (SOHU) (currently owns 68%). The main reason for the spread is most likely market’s distrust in the firmness of the offer as Charles Zhang, the CEO and major holder of Sohu, himself has already tried to acquire CYOU back in 2017 at $42.5/ADS. Both parties went silent and the proposal was reaffirmed 2018 again