Brief: Changyou.Com Enters Into Agreement For Going-Private Transaction

Sohu.com

24/01/2020 09:13

Jan 24 (Reuters) - Changyou.Com Ltd  CYOU.O :
    * CHANGYOU.COM ENTERS INTO A DEFINITIVE AGREEMENT FOR
GOING-PRIVATE TRANSACTION
    * CHANGYOU.COM LTD - COMPANY WILL BE ACQUIRED BY SOHU GROUP
IN AN
ALL-CASH TRANSACTION IMPLYING AN EQUITY VALUE OF COMPANY OF
APPROXIMATELY $579.0 MILLION
    * CHANGYOU.COM LTD - SOHU GROUP INTENDS TO FUND MERGER
PRIMARILY
WITH DEBT FINANCING
    * CHANGYOU.COM -  CO'S EACH CLASS A ORDINARY SHARE WILL BE
CANCELLED AND CEASE TO EXIST, IN EXCHANGE FOR RIGHT TO RECEIVE
$5.40 IN CASH WITHOUT INTEREST
    * CHANGYOU.COM LTD -  CO'S EACH OUTSTANDING ADS WILL BE
CANCELLED
IN EXCHANGE FOR RIGHT TO RECEIVE $10.80 IN CASH WITHOUT INTEREST
    * CHANGYOU.COM LTD - IF COMPLETED, MERGER WILL RESULT IN
COMPANY
BECOMING A PRIVATELY-OWNED COMPANY WHOLLY OWNED DIRECTLY AND
INDIRECTLY BY SOHU

Source text for Eikon:  ID:nPn9FwfLfa 
Further company coverage:  CYOU.O 

 ((Reuters.Briefs@thomsonreuters.com;))