July 27, 2020 / 1:54 PM / 11 days ago

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

July 27 (Reuters) - 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.

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)

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