Monster closes on Hot Jobs, stock price drops

Monster closed its $225 million acquisition today of Yahoo’s HotJobs. Shares of Monster stock fell 1.6%, or 17 cents, to $10.47. Yahoo’s shares also fell by 1% amidst broad market declines.

The deal also includes a three-year deal for Monster to act as Yahoo’s exclusive provider of job and career content. Monster said that the purchase would allow it to reach 62% of the U.S. population. It also claimed to be the top source of job listings for employers in 19 of the top 20 industries, and in 45 of the top 50 cities.

Monster has also indicated that it will undergo a transition period as it builds a new, integrated site.

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