Monster gets eaten up for $429Mn by Randstad Holding
Dutch based human resources services provider Randstad has acquired US-based job portal Monster Worldwide Inc for $429 million in all cash deal which is likely to close in Q4 2016. Randstad is paying $3.40 per share to Monster, a 22.7% premium over its latest closing price of $2.77. However, the amount seems way lower if we compare it with its highest price during the 2000’s when it traded as high as $91. At that time, it had a market cap of $8 billion.
According to Randstad, this acquisition will enable them to expand its services to offer both clients and candidates tools for “increased efficiency and engagement”. It will also leverage Monster’s multiple distribution channels in order to build a comprehensive portfolio of HR services. Prior to this, on June 2016, Monster”s competitor LinkedIn was acquired by Microsoft for $196 per share in an all-cash transaction valued at $26.2 Bn, inclusive of LinkedIn’s net cash.
So let's do:
1. Name the company, which has acquired by human resources services provider Randstad Holding?