As we wrote back on Monday, the official announcement of Monster Worldwide (MWW) hiring an advisor was a promising sign. The CEO had mentioned on the 1st that the stock was too cheap and that the company would seek a strategic deal to enhance shareholder value. Then on the 2nd, Oppenheimer questioned the true seriousness of a deal causing the stock to sell off. Not too surprising to see some doubters as Monster is always rumored as a buyout candidate. A rumor that so far has not come true.
This time though appears different. Monster has actually acknowledged the interest and followed through with the hiring of an advisor. Possibly suggesting that some of the rumors in the past came from executives unhappy with the stock price and contemplating a deal.
Read the full article at Seeking Alpha.
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