Why 51job Stock Tanked 19.3% This Week

Shares of 51job (NASDAQ: JOBS) are down 19.3% this week, according to data from S&P Global Market Intelligence. The Chinese human resources services company had a proposed going-private transaction that may not materialize as investors hoped, which caused the stock to tank this week.

On Nov. 8, 51job put out a press release concerning its proposed going-private transaction with Garnet Faith Limited at a transaction price of $5.7 billion. The update said Chinese regulators may have concerns with the proposed deal due to new regulatory changes. This puts some doubt on whether the deal will eventually go through.

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Source Fool.com