Chinese HR company gets $5.3b takeover approach

Bloomberg

51job Inc received a takeover approach from DCP Capital Partners that values the Chinese human-resources company at $5.3 billion.
DCP, an Asian private-equity firm, made a non-binding
cash offer of $79.05 per
common share in a letter to the company, 51job said.
51job said it hasn’t yet had a chance to carefully review and evaluate the offer. Founded in 1998, the company provides recruitment, employee retention and other personnel-related services. The firm has a Wuhan call centre and sales and service locations in more than 30 cities in China.
In the letter, DCP said its managers formerly worked at KKR & Co and Morgan Stanley’s private-equity businesses in Asia, and described the proposal as “an attractive opportunity for the company’s shareholders amidst a backdrop of ongoing Covid-19
uncertainty.”