TMP Worldwide OKs Deal to Buy HotJobs
TMP Worldwide Inc., owner of the biggest U.S. Internet job site, Monster.com, agreed to buy HotJobs.com for about $460 million in stock, gaining the third-largest U.S. Web job-search site.
HotJobs.com, a recruitment company whose services include its namesake consumer job board, will maintain its own site and brand name, TMP said.
TMP will exchange 0.2195 shares for each share of New York-based HotJobs. That values HotJobs at $13.17 a share. The shares had closed at $9, off $1.10, on Nasdaq before the deal was announced.
Shares of New York-based TMP rose 97 cents to $60, also on Nasdaq.
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