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International: Yahoo! bids $436 million for Hotjobs

International: Yahoo! bids $436 million for Hotjobs

Author | NULL | Monday, Jan 01,1900 7:27 AM

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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.

Tags: e4m

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