LinkedIn Not Interested in Monster Worldwide
Earlier today, Reuters reported that LinkedIn (NYSE: LNKD) was interested in acquiring Monster Worldwide (NYSE: MWW). Shares of Monster Worldwide spiked strongly higher after the news broke, with shares of Monster Worldwide moving up almost 15% nearly immediately.
The acquisition might make sense for LinkedIn, as Monster Worldwide operates in a similar space--online job search.
Still will the acquisition actually happen? It may not be likely.
A source familiar with the matter told Benzinga that LinkedIn is not interested in acquiring Monster Worldwide.
Benzinga reached out to Aaron Kessler, an analyst at Raymond James who covers LinkedIn. Kessler was not able to offer insight about whether or not the acquisition would happen, but did not think LinkedIn needed to make the move.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.