51 Job Inc Adr

51job’s Lowered Privatisation Bid

Event-Driven
281 Views, 13 Jan 2022 23:13
EXECUTIVE SUMMARY
  • The consortium’s updated transaction has lowered the offer price -27.6% to $57.25 in cash per ADS, a 24.92% premium to the last trading price (11 January 2022).
  • The combination of the dramatically lower price, spurious justification for lowering the price and the shares recently trading higher than the revised price is unlikely to win over minorities.
  • Meeting the two-thirds shareholder approval threshold is likely a challenge due to the need to convince around 27% of disinterested shareholders to vote in favour of the transaction. 
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Arun George
IPOs and Catalysts/Events
Global Equity Research Ltd
Information TechnologyEquitiesEquity Capital MarketsEvent-Driven

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start... 

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