Tencent, a global multinational conglomerate holding company, completed the acquisition of the remaining stake in Sogou, a Chinese technology company, from Sohu Group, a Chinese internet company, at a $3.5bn valuation. Upon the effectiveness of the merger, outstanding Class A ordinary shares of the company will be cancelled in exchange for the right for the holders thereof to receive $9 in cash per share or ADS. The merger consideration represents a premium of approximately 56.5% to the closing trading price of the ADSs on July 24, 2020, the last trading day prior to the Sogou's announcement of its receipt of a "going-private" proposal from Tencent, and a premium of 83% to the volume-weighted average price during the last 30 trading days prior to the Company's receipt of the "going-private" proposal. On July 13, 2021, China's antitrust regulator unconditionally approved Tencent's plan to take Sogou private.