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A News Corp. [NWS] spokeswoman this morning flatly denied in an e-mail that the media company has bid for Monster Worldwide Inc. [MNST]. A blog, Notable Calls, reported on Tuesday that News Corp.'s Rupert Murdoch had sent a letter to Monster offering $4.8 billion for the online career site.
With Monster shares trading near a 52-week low of $27.19, it's no surprise that rumors are flying that the company might be seeking a deal. But as we've said before, the weak stock price is the very reason why Monster is unlikely to sell anytime soon. It's very possible that CEO Sal Iannuzzi, who previously engineered the $3.9 billion sale of Symbol Technologies Inc. to Motorola Inc. [MOT] in 2006, was brought in last April to prep Monster for a sale, but it's unlikely he's interested in selling at a price far below where it was when he took over. - David Shabelman
See Jan. 8 post in Notable Calls
See Jan. 10 post in DealBook
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