Changyou Confirms Receipt Of Acquisition Proposal From Sohu - Quick Facts

(RTTNews) - Changyou.com (CYOU) said its board has received a preliminary proposal from Sohu.com (SOHU), the controlling shareholder of Changyou, to acquire Changyou for a purchase price of $5.00 per Class A ordinary share, or $10.00 per ADS, in cash. Changyou noted that it has not made any decisions with respect to the proposed deal. The company said its Board, composed solely of independent directors, will consider the proposal.

Also, Changyou.com received formal confirmation from Charles Zhang that he is no longer pursuing his 2017 non-binding proposal to acquire Changyou.