Hotjobs.com to be sold to Yahoo! Networks
HotJobs.com on Thursday officially backed out of an acquisition agreement made in June with TMP Worldwide and accepted a larger, unsolicited bid from Yahoo. TMP Worldwide, operator of No. 1 job website Monster.com, had agreed to buy HotJobs.com in a stock deal initially valued at $460 million. But that offer declined in value considerably, to about $355 million, due to a drop in TMP's stock price. Read more here.