Pre-market Movers For Sept 16 (SOHU, BZ, PKG, PERI, CRTX)

(RTTNews) - Gainers:

Sohu.com Inc. (SOHU) is up 7 percent to $69.16. The company announced a strategic cooperation with Tencent Holdings Limited (TCEHF.PK, TCEHY.PK) that will strengthen Sogou as a leader in the China market for search and internet services, particularly for the mobile platform. Tencent has invested $448 million in cash in Sogou and merged its Soso search related businesses and certain other assets with Sogou.

Boise Inc. (BZ) is jumping 26 percent to $12.62. Packaging Corporation of America (PKG) has agreed to acquire all outstanding shares of Boise for $12.55 per share cash, for $1.995 billion of aggregate transaction value, including $714 million debt. PKG is up over 12 percent to $61.50.

Decliners:

Perion Network Ltd. (PERI) is down 6 percent to $12.35. The company announced an agreement to combine privately-held Conduit's Client Connect business with Perion in an all-stock transaction. Following the closing, Perion will be owned 81 percent by the existing Conduit shareholders and option holders and 19 percent by existing Perion shareholders and option holders, on a fully diluted basis.

Trading halt:

Trading in shares of Cornerstone Therapeutics Inc. (CRTX) was halted. Chiesi Farmaceutici S.p.A. has agreed to acquire all of the outstanding common shares of the company for $9.50 per share in cash. Chiesi currently owns 58 percent of Cornerstone's outstanding common shares.