Home » It is reported that Tencent may officially announce the merger of Sogou Kandian recruitment has been suspended this week

It is reported that Tencent may officially announce the merger of Sogou Kandian recruitment has been suspended this week

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Tencent Holdings may officially announce its merger with Sogou this week. According to the plan, Tencent Kandian will absorb most of Sogou’s business and employees.According to reports, after the official announcement of the merger between the two parties, most of Sogou’s business and products will be shut down and will no longer operate as an independent brand, but will be integrated into Tencent. The two parties have been docking for several months.

The personnel adjustments brought by the integration of Sogou will be completed before the Spring Festival as soon as possible. in,A considerable number of employees in the Beijing team (mainly Sogou) will be optimized, and a number of base Shenzhen’s business lines will also cut some places in exchange for Sogou employees’ HC.

It is worth mentioning that in July this year, the State Administration for Market Regulation issued a list of unconditional approval of the concentration of operators, including the acquisition of Sogou’s equity by Tencent Holdings.

The State Administration for Market Regulation said,Tencent Holdings Co., Ltd. has been unconditionally approved to acquire Sogou’s equity.

It is reported that on July 27, 2020, Sogou announced that it had received a preliminary non-binding tender offer from Tencent to the company.

According to the announcement, Tencent intends to acquire all the issued common shares of Sogou, including common shares represented by Sogou American Depositary Shares (ADS) that Tencent or its affiliates do not currently hold. The purchase price is per common share or American Depositary. The stock is 9 dollars, and the payment method is cash.

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In September of the same year,Sogou announced that it has signed a final privatization agreement and will become an indirect wholly-owned subsidiary of Tencent Holdings.

At that time, the transaction was expected to be completed in the fourth quarter of 2020. After the transaction is completed, Sogou will be delisted from the New York Stock Exchange.

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