Monster's HotJobs Deal Under Regulatory Scrutiny
April 09 2010 - 7:31PM
Dow Jones News
Monster Worldwide Inc.'s (MWW) $225 million deal to buy Yahoo
Inc.'s (YHOO) HotJobs online jobs site is getting a closer look by
U.S. antitrust regulators, the company said Friday.
Monster said in a statement it has received a "second request"
for information from the U.S. Federal Trade Commission, which is
looking into its proposed acquisition of HotJobs.
Yahoo in February announced it had agreed to sell HotJobs as
part of the Internet giant's effort to shed non-core businesses and
streamline operations. The two companies also struck a three-year
agreement under which Monster will provide career and job content
for the Internet giant's homepage in the U.S. and Canada.
"Monster intends to respond expeditiously to this request and
continue to work cooperatively with the FTC in connection with this
review," the company said, adding that it continues to expect the
transaction to close in the third quarter of 2010.
-By Scott Morrison; Dow Jones Newswires; 415-765-6118;
scott.morrison@dowjones.com
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