Tencent offers to buy Chinese search engine Sogou for $2.1 bn

Chinese search engine Sogou announced Tencent Holdings has made a preliminary, non-binding offer to buy Sogou in a $2.1 billion deal. Tencent has offered to pay $9 in cash for each of Sogou's American depositary share (ADS) that it doesn't already own. The offer represents a premium of approximately 56.5% to the closing trading price of ADSs on July 24.