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Monster.com buys HotJobs.com

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New York--The parent company of Monster.com, a leading online job-hunting portal, said late Sunday that it is buying rival HotJobs.com for about $460 million in stock. TMP Worldwide, a New York-based recruiting firm, said it would keep Hotjobs.com as a stand-alone site and brand. Under the agreement, expected to close in the fourth quarter, shareholders of New York-based HotJobs will receive 0.2195 share of TMP common stock for each HotJobs share held. That comes out to about $12.20 a share based on TMP's 10-day average share price of $55.63.
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