51job appointed financial and legal advisors to help evaluate the offer for privatization


There is no worry about the future( Nasdaq:JOBS )It was announced today that a special committee of the company’s board of directors has appointed Duff & Phelps as independent financial adviser and Davis Polk & Wardwell as independent legal adviser to help evaluate the privatization offer the company has received before.
On the evening of September 17, 51job announced that its board of directors had received a preliminary non binding privatization proposal from DCP capital partners, L.P. (the buyer) on September 17, 2020, intending to purchase all the issued common shares of 51job with cash of $79.05 per common share.
On September 21, 51job announced the establishment of a special committee to evaluate the privatization offers the company had received before. The special committee is composed of two independent directors, Li Lan Cheng and Eric he. At that time, the Special Committee indicated that it planned to employ consultants, including an independent financial adviser and an independent legal adviser, to assist in the assessment.
At the same time, 51job also reminded shareholders and other investors considering buying and selling the company’s shares that the company has not made any decision on the privatization proposal or any other alternative strategic options.