China's Internet giant Sohu.com (SOHU.NASDAQ) announced on Thursday its board of directors received an offer from the chairman and the company's CEO Zhang Chaoyang.
According to the offer, Zhang and a third-party private equity firm will establish a special purpose entity to invest as much as 600 million US dollars of cash to buy ordinary shares and convertible bonds of Sohu.com. The acquisition price of ordinary shares will be set at no more than 50 dollars per share. The interest rate, due date and conversion price of convertible bonds have not been determined yet.
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