Stock Alert: 51job Shares Surge 17%

(RTTNews) - Shares of 51job Inc. (JOBS) are soaring over 17% Thursday morning, after the company announced that its Board has received a preliminary non-binding proposal letter dated September 17, 2020 from DCP Capital Partners L.P. to acquire all of the outstanding common shares of the company for US$79.05 in cash per common share.

According to the Proposal Letter, the Proposing Buyer intends to fund the consideration payable in the Proposed Transaction with equity capital from the Proposing Buyer and debt financing.

The stock has been trading in the range of $53.94 - $92.61 for the past one year, and is currently trading at $79.81, up $11.69 or 17.16% in Thursday's regular session. Trading volume is 217K versus an average volume of 143K shares.