China Car Rental Firm eHi Weighs $1 Billion Hong Kong IPO
Bloomberg News, Bloomberg News A customer receives keys to their new car beneath a protective plastic barrier at a Ford Motor Co. and Kia Motors Corp. car dealership in Clifton, New Jersey, U.S, on Wednesday, May 20, 2020. Governor Phil Murphy has lifted restrictions on in-person auto sales, provided the businesses follow social distancing guidelines, NBC reported. Photographer: Angus Mordant/Bloomberg , Bloomberg
(Bloomberg) eHi Car Services Ltd., a Shanghai-based car rental company, is considering an initial public offering in Hong Kong that could raise about $1 billion, according to people familiar with the matter.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
51job, Inc. Announces Receipt of an Updated Non-Binding Proposal to Acquire the Company
May 4, 2021 GMT
SHANGHAI, May 4, 2021 /PRNewswire/ 51job, Inc. (Nasdaq: JOBS) (“51job” or the “Company”), a leading provider of integrated human resource services in China, announced today that its Board of Directors (the “Board”) has received an updated preliminary non-binding proposal letter dated May 4, 2021 (the “Proposal Letter”) from DCP Services Limited, Ocean Link Partners Limited, and Mr. Rick Yan, the Chief Executive Officer of the Company (collectively, the “Consortium”), with respect to the proposed “going-private” transaction wherein the Consortium proposes to acquire all of the outstanding common shares of the Company for US$79.05 in cash per common share (the “Proposed Transaction”). A copy of the Proposal Letter is attached hereto as Exhibit A.
Shares of 51job (
JOBS) - Get Report jumped on Tuesday after the China-based HR staffing company said it had received a revised takeover proposal valued at $79.05 cash a share, or $5.3 billion.
DCP Services, Ocean Link Partners and 51job Co-Founder Rick Yan are now partnering for the takeover.
Private-equity firm DCP made the original bid in September at $79.05 a share to take 51job private.
The offer represents a deal value of about $5.33 billion, media reports say
At last check 51job shares jumped 10% to $67.76. They ve traded on Tuesday up as much as 15% at $70.35.
51job had formed a special committee of two independent directors to evaluate the original bid for the company, which was made in September.
Chinese recruitment firm 51job receives revised take-private offer of $5b
May 4, 2021
51job Inc said on Tuesday that it had received a revised takeover proposal valued at more than $5 billion from private equity firms DCP Services, Ocean Link Partners, and the Chinese recruitment firm’s co-founder and chief, Rick Yan.
DCP, which made the original bid in September, has roped in the two other investors and sent a revised bid of $79.05 per share to take 51job private.
The offer represents a deal value of about $5.33 billion, according to Reuters’ calculations.
US-listed shares of 51job, which have fallen 10% after the first takeover bid, were up 14.3% premarket on Tuesday.