Monster Worldwide Shares Surge on Purchase Rumors

The company's CEO said he was considering a sale months ago

   

Monster Worldwide Shares Surge on Purchase Rumors

Shares of Monster Worldwide (NYSE:MWW) jumped 10% in Thursday morning trading as rumors circulated that it had found a potential buyer. In February, CEO Salvatore Iannuzzi indicated that he was mulling the sale of the online job-search service, Bloomberg noted.

The company retained Bank of America‘s (NYSE:BAC) Merrill Lynch division and Stone Key Partners to provide guidance regarding its future back in March.

jobless unemployment 630 200x200 Monster Worldwide Shares Surge on Purchase Rumors
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Among the potential suitors are leading Internet and media names, including Oracle (NASDAQ:ORCL), Salesforce.com (NYSE:CRM), Microsoft (NASDAQ:MSFT), News Corp. (NASDAQ:NWSA) and SAP (NYSE:SAP).

Analysts said any potential merger partner would likely be a business software and service provider, which could leverage Monster’s extensive website to bring added value to its corporate service offerings.

Monster’s shares have risen more than 8% this year as speculation over the company’s acquisition prospects has grown.


Article printed from InvestorPlace Media, http://investorplace.com/2012/09/monster-worldwide-shares-surge-on-purchase-rumors/.

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