Changyou.com Announces Receipt of a Preliminary Non-Binding Proposal to Acquire the Company
CHANGYOU.COM (CYOU)
Last changyou.com earnings: 3/9 02:30 am
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US:NASDAQ Investor Relations:
ir.changyou.com
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Source: PR Newswire
BEIJING, Sept. 9, 2019 /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 "Changyou Board") has received a preliminary non-binding proposal letter (the "Proposal Letter"), dated September 9, 2019, from Sohu.com Limited ("Sohu")(NASDAQ: SOHU), a Cayman Islands company and the ultimate controlling shareholder of Changyou, to acquire all of the outstanding Class A ordinary shares of Changyou, including Class A ordinary shares represented by American depositary shares ("ADSs"), each representing two Class A ordinary shares, that are not already owned by Sohu for a purchase price of $5.00 per Class A ordinary share, or $10.00 per ADS, in cash (the "Proposed Transaction"). As Sohu holds all of the Class B ordinary shares of Changyou that are currently outstanding, the Proposed Transaction, if completed, would result in Changyou becoming a privately-held, i
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