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U.S.-listed shares of the company were up about 3% in premarket trading.
The offer price represents a premium of 56.5% to Sogou’s close on July 24, the last trading day before the Chinese tech giant sent a preliminary offer to take it private.
The move comes a day after Chinese social media platform Weibo (NASDAQ:WB)’s owner Sina (NASDAQ:SINA) Corp said it would be taken private in a $2.6 billion deal.
Many Chinese companies are exiting U.S. stock exchanges by considering go-private deals or returning to equity markets closer to home on rising tensions between the world’s two largest economies.
