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International: Yahoo! bids $436 million for Hotjobs

14-December-2001
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International: Yahoo! bids $436 million for Hotjobs

Yahoo!, Sunnyvale, Calif., today offered to buy Hotjobs, an online job recruiter, for about $436 million in cash and stock, perhaps scuttling acquisition hopes by TMP Worldwide, parent of Monster.com.

Yahoo! Chairman-CEO Terry Semel said the deal would provide HotJobs shareholders with better value and fewer regulatory concerns than the TMP offer.

Yahoo! bid about $10.50 per share, compared with HotJob's share price of $6.47 at close of market today. TMP bid $460 million, and the Maynard, Mass., company had hoped the deal would close by March.

HotJobs is the America’s leading online recruiter, followed closely by Monster, though the numbers seesaw.

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