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Changyou.com forms committee to review Sohu.com's takeover offer

Chinese online game developer and operator Changyou.com Ltd. formed a special committee to review and evaluate a nonbinding proposal from its parent company Sohu.com Ltd. to fully acquire Changyou.com.

The committee consists of independent directors Xiao Chen and Charles Chan, the company disclosed in an Oct. 18 SEC filing.

Sohu.com earlier offered to purchase all class A ordinary shares it does not already own in Changyou.com, including American depositary shares, at US$5 per share or US$10 per ADS in cash.

Changyou.com's special committee retained Houlihan Lokey (China) Ltd. as its financial adviser and Skadden Arps Slate Meagher & Flom as its U.S. legal counsel.