HotJobs.com Leaps on Merger

HotJobs.com (HOTJ) was up 33% in preopen Island trading after the company announced late Friday it would be acquired by TMP Worldwide (TMPW), the parent company of rival job search site Monster.com.

TMP will pay about $460 million for the company in a stock-swap deal which values each HotJobs.com share at 0.2195 share of TMPW or about $12.16. The price represents a 20.8% premium over the closing price Thursday of $10.10. TMP was down 5.1%.

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