Benzinga | Nov 8, 2021 07:05AM EST

51job Announces Update On Going-Private Transaction

51job, Inc. (Nasdaq JOBS) ("51job", or the "Company"), a leading provider of integrated human resource services in China, announced today that certain members of the buyer consortium that formed Garnet Faith Limited to acquire the Company (the "Proposed Transaction") pursuant to the previously announced agreement and plan of merger dated as of June 21, 2021, have been in consultation with Chinese regulators on recent regulatory changes in China that may be applicable to the Company and the Proposed Transaction. The consultation process by these buyer consortium members is currently ongoing and a clear timeline to its completion cannot be provided at this time. The Company intends to file an updated Schedule 13E-3 Transaction Statement (including the Company's proxy statement) as soon as possible, subject to the progress of the consultation process.