Monster Worldwide Shares Surge on Purchase Rumors

by Christopher Freeburn | September 6, 2012 11:53 am

Monster Worldwide Shares Surge on Purchase Rumors

Shares of Monster Worldwide (NYSE:MWW[1]) jumped 10% in Thursday morning trading as rumors circulated that it had found a potential buyer[2]. 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[3]) Merrill Lynch division and Stone Key Partners to provide guidance regarding its future back in March.

Among the potential suitors are leading Internet and media names, including Oracle (NASDAQ:ORCL[4]), Salesforce.com (NYSE:CRM[5]), Microsoft (NASDAQ:MSFT[6]), News Corp. (NASDAQ:NWSA[7]) and SAP (NYSE:SAP[8]).

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.

Endnotes:
  1. MWW: http://studio-5.financialcontent.com/investplace/quote?Symbol=MWW
  2. rumors circulated that it had found a potential buyer: http://www.bloomberg.com/news/2012-09-05/monster-worldwide-advances-amid-takeover-speculation.html
  3. BAC: http://studio-5.financialcontent.com/investplace/quote?Symbol=BAC
  4. ORCL: http://studio-5.financialcontent.com/investplace/quote?Symbol=ORCL
  5. CRM: http://studio-5.financialcontent.com/investplace/quote?Symbol=CRM
  6. MSFT: http://studio-5.financialcontent.com/investplace/quote?Symbol=MSFT
  7. NWSA: http://studio-5.financialcontent.com/investplace/quote?Symbol=NWSA
  8. SAP: http://studio-5.financialcontent.com/investplace/quote?Symbol=SAP

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