Monster.com, the online job finder owned by TMP Worldwide, said Friday it has made an offer to acquire rival European service Jobline International for $115.5 million in stock. TMP will offer a purchase price of $2.90 (30.70 kronor) per share. Jobline's board of directors has approved the offer.
The acquisition would help Monster increase its presence in the European market while providing a boost in overall traffic to the site, the company said in statement. Stockholm-based Jobline, which offers job-search services in 11 European countries, would bring Monster into four new countries--Sweden, Norway, Denmark and Switzerland--and raise the number of its international sites to 20 overall.