China’s 51job Agrees to Lower Buyout Offer of $4.3 Billion
- Offer represents about an 18% premium to last closing price
- Group reduced original bid on expected Chinese regulation
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51job Inc. agreed to accept a lowered takeover offer from a private equity consortium valuing the Chinese online recruitment company at $4.3 billion.
An investor group backed by DCP Capital Partners and Ocean Link Partners reached a deal to buy the Nasdaq-traded firm for $61 per American depositary share, according to a statement Tuesday, which confirmed an earlier Bloomberg News report. The transaction is set to be one of the largest take-private deals for a U.S.-listed Chinese firm this year.