BEIJING, Aug. 11, 2020 /PRNewswire/ — Sogou Inc. (NYSE: SOGO) (“Sogou” or the “Firm”), an innovator in research and a chief in China’s web business, right now declared that the particular committee (the “Unique Committee”) of the board of directors of the Company (the “Board”) has retained Duff & Phelps, LLC as its unbiased economic advisor.
The Special Committee was shaped to assessment and consider the formerly introduced non-binding proposal (the “Proposal”) included in a letter that the Board gained on July 27, 2020 from Tencent Holdings Restricted (including its affiliate marketers, “Tencent“). Beneath the Proposal, Tencent proposed to acquire all of the fantastic everyday shares, which includes common shares represented by American depositary shares (“ADSs”), of Sogou that are not by now owned by Tencent for US$9.00 in cash for every everyday share or Advertisements (the “Proposed Transaction”).
The Firm cautions its shareholders and many others considering buying and selling the Company’s securities that neither the Board nor the Exclusive Committee has manufactured any determination with respect to the Firm’s reaction to the Proposal. There can be no assurance that Tencent will make any definitive supply to the Firm, that any definitive agreement relating to the Proposal will be entered into in between the Firm and Tencent, or that the Proposed Transaction or any other equivalent transaction will be approved or consummated. The Corporation does not undertake any obligation to deliver any updates with regard to this or any other transaction, except as necessary less than applicable law.
Risk-free Harbor Statement
This announcement may perhaps incorporate forward-seeking statements. Statements that are not historic info, which includes statements about the Company’s beliefs and expectations, are ahead-searching statements. Forward-seeking statements contain inherent pitfalls and uncertainties. The Organization cautions you that a amount of vital components could trigger genuine results to differ materially from those people contained in any ahead-wanting assertion. There can be no assurance that Tencent will make any definitive provide to the Business, that any definitive settlement relating to the Proposal will be entered into amongst the Enterprise and Tencent, or that the Proposed Transaction or any other identical transaction will be permitted or consummated.
Sogou Inc. (NYSE: SOGO) is an innovator in look for and a chief in China’s internet industry. With a mission to make it straightforward to communicate and get information and facts, Sogou has developed to come to be the next-biggest search engine by mobile queries and the fourth largest world-wide-web organization by MAU in China. Sogou has a extensive variety of progressive items and companies, together with the Sogou Enter Approach, which is the largest Chinese language enter software package for the two mobile and Computer. Sogou is also at the forefront of AI enhancement and has created sizeable breakthroughs in voice and picture technologies, equipment translation, and Q&A, which have been successfully built-in into our products and services.
For trader enquiries, you should speak to:
Sogou Investor Relations
Tel: +86 10 5689 8068
Email: [email protected]
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Sogou General public Relations
Tel: +86 10 5689 9999 (61958)
Email: [email protected]
Resource Sogou Inc.