Sogou Wang Xiaochuan: a special committee has been set up to evaluate Tencent’s acquisition proposal


Sina science and technology news on August 10 evening news, Sogou today announced the second quarter of June 30, 2020 without audit financial report, Sogou CEO Wang Xiaochuan and CFO Zhou Yi and other company management attended the subsequent telephone conference.
Due to the ongoing privatization transaction, Sogou canceled the original analyst Q & a session.
But in a subsequent statement, CEO Wang Xiaochuan disclosed the latest progress of the deal. “Not long ago, Sogou received a preliminary non binding offer letter from Tencent,” he said. According to the letter, Tencent will acquire all of Sogou’s outstanding common shares, including Sogou’s issued common shares representing ads, for $9 per common share or ads. We are very grateful for Tencent’s recognition of our technology and innovation capabilities, for which we have set up a special committee to evaluate Tencent’s proposals. We will do our best to protect the interests of our shareholders. “