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Changyou Announces Receipt of a Preliminary Non-Binding Proposal to Acquire the Company

CHANGYOU.COM (CYOU)  More Company Research Source: PR Newswire
Last changyou.com earnings: 7/31 01:30 am Check Earnings Report
US:NASDAQ Investor Relations: ir.changyou.com
PDF BEIJING, May 22, 2017 /PRNewswire/ -- Changyou.com Limited ("Changyou" or the "Company") (NASDAQ: CYOU), a leading online game developer and operator in China, today announced that its board of directors (the "Board") has received a preliminary nonbinding proposal letter, dated May 22, 2017, from Mr. Charles Zhang (the "Buyer"), chairman of the Board of the Company, to acquire all of the outstanding Class A and Class B ordinary shares of the Company, including Class A ordinary shares represented by American depositary shares of the Company (the "ADSs", each representing two Class A ordinary shares), for $21.05 in cash per Class A or Class B ordinary share, or $42.10 in cash per ADS, which represents a premium of 50% to the average closing price of the Company's ADSs during the last 90 trading days, and a premium of 9% to the closing price of the Company's ADSs on May 19, 2017. A copy of the proposal letter is attached hereto as Exhibit A. The Board intends to fo [Read more]

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