Is LinkedIn Buy Just a Monster Rumor?
Monster Worldwide (NYSE:MWW) shares surged 22 percent on Friday on news that LinkedIn (NYSE:LNKD) had reportedly expressed interest in buying the job-search company. But a source closed to LinkedIn has now denied the rumors, saying LinkedIn has “zero interest” in such a purchase, both now and in the future.
Investing Insights: Intel to Apple: We Will Not Be Ignored!
Monster said in March that it was considering selling all or part of the company. According to a Reuters report citing anonymous sources, potential buyers included LinkedIn and private equity firm Silver Lake partners. Reuters reported that Monster “plans to send out financial information to the interested parties by the end of next week.”
Monster shares skyrocketed on the news, and trading was halted temporarily. The stock ultimately closed the day up 19 percent. Shares have slowly begun to sell off in after-hours trading.
Don’t Miss: The Curious Case of Scott Thompson’s Resume.