Investing.com – Monster Worldwide Inc (NYSE:MWW) jumped more than 20% in pre-market trade on Tuesday after receiving a buyout offer from Randstad Holdings NV (OTC:RANJY).
The Dutch recruitment firm said it would pay $3.40 per share, for a total of approximately $429 million, in order to acquire the U.S. online jobsearch site in a move to continue expanding its services.
Randstad said that the deal was expected to close in the fourth quarter and that it would be financed via existing credit facilities.
“In an era of massive technological change, employers are challenged to identify better ways to source and engage talent,” said Jacques van den Broek, CEO of Randstad.
“With its industry leading technology platform and easy to use digital, social and mobile solutions, Monster is a natural complement to Randstad,” he added.