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Changyou chairman reiterates offer to buy company

Charles Zhang, chairman of Sohu.com Inc.-owned Changyou.com Ltd., reiterated his offer to acquire all of the outstanding Class A and Class B ordinary shares of Changyou.com.

In a Jan. 30 letter, Zhang said that he is reviewing the purchase price proposed in the original proposal as a result of the "tougher than expected environment faced by Changyou and the proposed transaction," according to an amended Schedule 13D filed Feb. 1.

Zhang also cited weaker than expected financial and operational performance of Changyou, the increased competitiveness in the Chinese online gaming market, and regulatory oversight on Chinese outbound mergers and acquisitions transactions.