Pass 360 buy Sogou trading failed: Four factors make Charles Zhang changed his mind

According to sources said, Sogou and Qihoo 360 of the transaction has been terminated, mainly because the negotiations lasted too long, the market and financial environment changes so that some of the original purpose has been unable to achieve. Sogou, Qihoo 360 merger rumors began in May 2013, the latest deal rumors of the search is Sogou to 1.4 billion U.S. dollars in cash valuation sales, Qihoo 360 to pay for the acquisition of additional 30%. According to a number of sources, the transaction because of "Zhang Chaoyang Attitude mutation", "has been yellow", the reasons for four: first of all, Charles Zhang's original intention can not be achieved. According to the person revealed that, Charles Zhang wants to sell Sogou to Qihoo 360 is a big reason is that he is bullish 360 on the PC side of the growth value, and expected Qihoo 360 of the share price will double after the transaction. Therefore, Charles Zhang and Zhou when the negotiations were designed, with the issuance of Odd Tiger 360 shares raised funds to acquire the way to buy Sogou. Such a price of 1.4 billion dollars, Charles Zhang also expected to be in the capital market can be more than 1 time times the value-added, Sogou final value of about 3 billion U.S. dollars. But with several months of negotiations, several times by the sources revealed that Qihoo 360 share price has been stimulated by the news. From the original Qihoo 360 to buy Sogou when less than 30 U.S. dollars, as of August 12 Qihoo 360 shares have risen to 68.87 U.S. dollars, or nearly 130%. So that Zhang hearted, such as chewing chicken ribs, judge at this time and additional acquisitions on the dog's future value, there is no short-term value-added significance. Second, the market situation of the variables. If there is no Baidu for 91 of the acquisition, then 360+ Sogou is the PC end of the second and old perfect reverse attack, you can in the browser or the navigation station to Baidu to carry out traffic and advertising restrictions, so as to further seize Baidu's original market share. But with Baidu's 91-dollar takeover, it suddenly dawned on the industry that the search campaign is no longer a simple integration of the PC side, and that the acquisition reveals important information: Search has become the gateway to the mobile side, distributing the scramble. and Qihoo 360 plus Sogou is just a simple integration of traditional PC traffic. Its third, the mentality changes. In Zhang's mind, Sogou is worth more than 91. In the negotiations on the value of Sogou is 1.4 billion U.S. dollars, when Charles Zhang witnessed 91 to 1.9 billion U.S. dollars, the river once the "one elder brother" has a big appetite, think 1.4 billion of this price is too low. Four, there has been the fear of Qihoo 360. Originally Odd Tiger 360 Zhou is a strong figure, everything needs others to listen to its command, Shuoyibuer. With Qihoo 360 's share price soaring, market capitalisation has surpassed Sohu. The style of Qi Tiger 360 more and more words, what terms Sohu almost can only wronged accept, this let the Internet big guy's Zhang is angry, accept not. At the same time can also predict the future Wang Xiaoquan, such as Sohu people, is sure to be Qihoo 360 cleaning appearance, Sogou will also be in a period after the Qihoo 360 strangled, the river is no Sogou. So Charles Zhang finally made the decision to abandon the merger altogether. In the process of trading rumors, in addition to Sogou Wang Xiaoquan repeated rumors, two companies have notRespond too much to hearsay.