Cash and Stock Deal Rivals Offer From TMP

By Published on .

BOSTON ( -- 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

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.

FTC concern
Yahoo! isn't TMP's only concern. The Federal Trade Commission has been reviewing the deal, which TMP presented in June.

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

Neither HotJobs nor TMP could be reached for comment at press time.

Most Popular
In this article: