51job stock set to surge after buyout bid valuing company at $5.3 billion

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Shares of 51job Inc. were indicated up nearly 9% in premarket trading Thursday, after the China-based human resources services company said it has received an unsolicited buyout bid from DCP Capital Partners for $79.05 a share in cash. That bid price represents a 16% premium to Wednesday’s stock closing price of $68.12, and would value the company at about $5.31 billion. 51job said it plans to evaluate the proposed deal, and said there is no assurance that a deal will be made. The stock has dropped 19.8% year to date through Wednesday, while the iShares MSCI China ETF has rallied 16.3% and the S&P 500 has gained 4.8%.
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