Jeremy Raper • 17 Comments
Wed, Oct. 26, 2:24 PM
Mon, Oct. 17, 7:56 AM
- Monster Worldwide (NYSE:MWW) sets October 25 as the record date for a proposed consent solicitation from MediaNews Group (OTC:MNWG).
- MediaNews opposes Monster's agreement with Randstad North America (OTCPK:RANJF) struck in August to be acquired for $3.40 per share in cash.
- Monster recommends shareholders disregard MNG's consent solicitation and instead tender their shares into Randstad's all-cash offer.
- Source: Press Release
Tue, Aug. 9, 2:33 AM
- Dutch human resources provider Randstad Holding (OTCPK:RANJY) has agreed to buy Monster Worldwide (NYSE:MWW) for about $429M and intends to finance the acquisition through existing credit facilities.
- The $3.40 per share in cash offer, representing a 22.7% premium to Monster's closing stock price on Monday, will see Monster continue operating as a separate and independent entity under its current name.
Wed, Jun. 8, 10:39 AM
- Monster Worldwide (NYSE:MWW) announces it has acquired mobile app Jobr for an undisclosed amount.
- "Bringing the Jobr app and team to Monster will enhance our leading global talent platform for job search, people search and related solutions across mobile channels," said Mark Stoever, President and Chief Operating Officer, Monster.
- The Jobr app uses a 'Tinder-like' model, allowing job seekers to quickly connect with or dismiss job opportunities by swiping right or left on job postings and then apply to those jobs. Jobr also provides tools for recruiters to manage and interact with applicants.
- Monster says it will immediately begin to integrate the Jobr app with the Monster global talent platform, initially focusing on building out key capabilities including single sign on for users and developing Monster membership workflows.
- The company will then work to extend the Jobr app to other markets in which it operates through early 2017.
Sep. 28, 2015, 5:14 PM
- P-E firm H&Q Korea is buying Monster's (NYSE:MWW) remaining 50.01% stake in JobKorea for KRW101B ($85M). Monster sold the other 49.9% to H&Q Korea for $90M in 2013.
- "The proceeds from this transaction will provide added financial flexibility as we move forward toward our objective of enhancing shareholder returns as part of our capital allocation program," says Monster CEO Tim Yates. The deal is expected to close in October.
- For reference, Monster currently has a $588M market cap. The company had $127M in cash/investments at the end of Q2, and $209M in debt. Shares have risen to $6.45 after hours, nearly recovering their regular-trading losses.
Nov. 7, 2013, 10:35 AM
- In addition to beating Q3 EPS estimates (while missing on revenue), Monster (MWW +12%) is guiding for Q4 EPS from continuing ops of $0.09-$0.13, above an $0.08 consensus.
- Monster has announced it's selling a 49.9% stake in leading/profitable Korean jobs site JobKorea to P-E firm H&Q Korea for $90M. Monster says it will retain management control of JobKorea, and will rely on H&Q's "expertise and extensive Asia Pacific regional network" to grow the business."
- Also, Monster is expanding an existing online job listings JV with Finnish media firm Alma Media to cover Eastern Europe and the Baltics. Following the deal, Monster's stake in the JV stands at 15%.
- Q3 revenue fell 11% Y/Y to $197M, evidence of continued share loss to LinkedIn; LinkedIn's Q3 jobs division revenue rose 62% Y/Y to $225M. Careers North America revenue was $110M, flat Q/Q and -5% Y/Y.
Feb. 8, 2013, 4:34 PM
Monster (MWW -1.7%) closed lower again today after missing Q4 revenue estimates, reporting weak European bookings, and suggesting on its earnings call the its sale process isn't going well. "I can’t guarantee that there’s anything of interest or appropriate interest to bring to our board for presentation," said CEO Sal Iannuzzi. Oppenheimer thinks it's time for a buyback, something management has been reluctant to do. Rival LinkedIn soared today after posting a huge Q4 beat and very strong Talent Solutions sales.| Feb. 8, 2013, 4:34 PM
Oct. 5, 2012, 4:16 PMMore on Monster Worldwide's (MWW -9.4%) decline: Talks between Monster and a P-E suitor reportedly fell apart, with Monster turning down a $10/share buyout offer. Monster closed at $8.05 yesterday, and $7.30 today. On Monday, the company was reported to be in "advanced talks" with a P-E firm. | Oct. 5, 2012, 4:16 PM
Jul. 18, 2012, 10:53 AM
May 18, 2012, 5:27 PMMonster Worldwide (MWW -0.8%), which has said it's exploring "strategic alternatives," is receiving little interest from P-E firms, according to DealReporter. Monster shares soared last week on a rumor of a LinkedIn/Silver (LNKD) Lake bid, and held onto most of their gains in spite of LinkedIn's denial. | May 18, 2012, 5:27 PM | 1 Comment
May 11, 2012, 1:25 PM
Mar. 5, 2012, 5:04 PM
Dec. 12, 2011, 8:47 AM
Monster Worldwide (MWW) has long been seen as a buyout candidate. But with shares down 66% YTD thanks to weak employment data and growing competition from LinkedIn (LNKD), the company is now especially enticing to some P-E firms, claims Bloomberg Businessweek. Some think a "strategic buyer" such as Google (GOOG) or a newspaper owner may also be interested.| Dec. 12, 2011, 8:47 AM
May 23, 2011, 5:25 PM