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Why 51job Stock Just Popped by 11%

TheMotleyFool

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Why 51job Stock Just Popped by 11%Photo, wide shot, wide-angle lens, Private equity firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/2b695cca-48cb-4195-802a-e3385fb90ec0.png

Shares of 51job (NASDAQ: JOBS) were trading 11% higher as of 1:15 p.m. EDT Thursday after the Chinese job-search website revealed that Beijing-based private equity firm DCP Capital Partners had approached it with a buyout proposal.

DCP is proposing to pay $79.05 per share for 51job in a buyout valued at $5.3 billion, using a combination of cash on hand and debt financing.

Image source: Getty Images.

Source Fool.com

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