Online Recruitment Platform 51job Receives Preliminary Privatization Proposal
51job, 9/17/20
Chinese online recruitment platform operator 51job (Nasdaq: JOBS) announced today that its Board of Directors has received a preliminary non-binding proposal letter dated September 17, 2020 from DCP Capital Partners (the "Proposing Buyer") to acquire all of the outstanding common shares of the company for USD 79.05 in cash per common share (the "Proposed Transaction").
The Proposal represents a premium of 18.82% to the company's volume-weighted average price during the last 30 days, and a premium of 16.05% to the company's last closing price on September 16, 2020.
According to the Proposal Letter, the Proposing Buyer intends to fund the consideration payable in the Proposed Transaction with equity capital from the Proposing Buyer and debt financing.
The Board plans to evaluate the Proposed Transaction.
About 51job
Founded in 1998, 51job is a leading provider of integrated human resource services in China. With a comprehensive suite of HR solutions, 51job meets the needs of enterprises and job seekers through the entire talent management cycle, from initial recruitment to employee retention and career development. The company's main online recruitment platforms (http://www.51job.com, http://www.yingjiesheng.com, http://www.51jingying.com, http://www.lagou.com, and http://www.51mdd.com), as well as mobile applications, connect millions of people with employment opportunities every day. 51job also provides a number of other value-added HR services, including business process outsourcing, training, professional assessment, campus recruitment, executive search and compensation analysis. 51job has a call center in Wuhan and a nationwide network of sales and service locations spanning more than 30 cities across China.
Editor's Note: To view 51job's full announcement, please click here.
Keywords: delist DCP Capital 51mdd Internet 51job online recruitment Lagou 51JingYing Yingjiesheng
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