Abernathy helps Yahoo! in buyout

NEW YORK: Yahoo! has hired the Abernathy MacGregor Group for help

it in its $436 million unsolicited bid for the career website

HotJobs.com.



The mega-portal is working to beat an offer made this June from the

parent company of rival career site Monster.com.



Abernathy is tight-lipped about the precise nature of its work to help

Yahoo!, with its $10.50 cash-and-stock exchange for each share of

HotJobs.



Analysts, who have slammed Yahoo! for relying on ads for revenue, have

nonetheless generally criticized the company's latest move.



"While we commend their overall strategy of building paying

relationships with customers, there are better ways to spend money in

this economy," said Aram Sinnreich, senior analyst at Jupiter Media

Metrix.



Yahoo!'s offer, made late last Wednesday, was 62% over HotJobs' closing

price that day of $6.47. Before noon the next day, HotJobs shares

rose 64%, or $4.15, to $10.62, while shares of Monster.com

parent company TMP Worldwide fell 6.4% ($2.87) to $42.18.

Yahoo! shares fell 7%, or $1.38, to $17.76.



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