Sogou: Set to open at 2-year peak on Tencent's $3.5 bln take-private deal

Sotherly Hotels

29/09/2020 12:54

** Chinese search engine company's shares  SOGO.K  up 2.1%
at $8.85 premarket, set to open at their highest level since
August 2018
    ** SOGO says it will be taken private by Tencent Holdings
 0700.HK  for $9 per share in cash  urn:newsml:reuters.com:*:nL4N2GQ2UJ  urn:newsml:reuters.com:*:nPnb2yy2ka
    ** Offer values SOGO at $3.5 bln
    ** China-based internet co Sohu.com  SOHU.O  will sell its
SOGO stake for $1.18 bln as part of the deal
    ** SOHU shares set to open near a one-month high, up 14.3%
at $20.64 before the bell     
    ** In the year to last close, SOGO gained 90.6% vs a 61.4%
rise in SOHU's shares during that time

 (Reporting by Aaron Saldanha)
 ((Aaron.Saldanha@thomsonreuters.com; +91 9810644993; Reuters
Messaging: Aaron.Saldanha@thomsonreuters.com@reuters.net))