Shares of leading provider of integrated human resource services in China 51job, Inc. (NASDAQ:JOBS) were up 12.02% at $68.70 during the early morning hours of trading today.
51job stock closed at $61.33 during the last session while hovering between $61.12 and $62.65 marks. The number of shares exchanged so far today is 324k against an average daily volume of 0.18 million for JOBS stock. After receiving a non-binding proposal letter, JOBS stock has gone up.
What was the proposal?
51job was founded in 1998 and is one of the leading providers of integrated human resource solutions in China. Among the services that 51job provides are business process outsourcing, training, professional assessments, campus recruiting, executive search, compensation analysis, and executive search.
The 51job Board of Directors announced today that a consortium has reached an updated preliminary non-binding proposal letter in connection with the planned “going private” transaction.
- The consortium consists of DCP Services Limited, Ocean Link Partners Limited, and Mr. Rick Yan, the Chief Executive Officer of the Company.
- Under the Group’s proposed acquisition plan, the Consortium would pay US$79.05 in cash for all the outstanding common shares of the 51job.
- In keeping with the original details of the Proposed Transaction, the Consortium was formed in September 2020 upon the submission by DCP of a preliminary non-binding proposal letter to JOBS.
- This proposal is an update to the preliminary non-binding proposal letter.
What does the 51job offer?
With a complete HR suite, 51job (JOBS) meets the needs of enterprises and job seekers in all phases of talent acquisition, retention, and development. Millions of people are connected with employment opportunities through JOBS’ online recruitment platforms and mobile applications every day.