HotJobs favors Yahoo takeover bid

Online job recruitment company on Monday said it intends to accept an unsolicited bid from Yahoo unless TMP Worldwide, which agreed to buy HotJobs in June, sweetens its offer.

Yahoo earlier this month offered to pay about $436 million in cash and stock for HotJobs, a bid that was deemed a superior proposal, HotJobs said.

A spokesman for TMP, which owns leading online recruitment site, declined comment, but said the company may issue a statement later Monday. TMP has 72 hours to make an offer that is "as favorable" to HotJobs shareholders, HotJobs said.

News source: CNet News - HotJobs favors Yahoo takeover bid

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