Why 51job Stock Just Popped by 11%
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.
Source Fool.com