51Job, the China-based recruitment site, announced today that it had formed a special committee tasked with evaluating the $5.3 billion U.S. buyout offer it received last week. DCP Capital Partners, the private equity firm heading the deal, is offering $79.05 per share, a 16% premium over 51Job’s closing price the day before the deal was announced.
The company tasked two of its independent directors, Li-Lan Cheng and Eric He, with evaluating the offer. Li-Lan Cheng is the CFO at Leju, the Chinese real estate portal.
The company stressed that the offer was not definitive and that no decisions had been reached. It also said it plans to retain financial and legal advisors to evaluate the offer and other potential options.