WESTON, Mass., Oct. 6, 2016 /CNW/ -- Monster Worldwide,
Inc. (NYSE: MWW) ("Monster" or "the Company") today provided a
statement on its expected revenue for the third quarter ended
September 30, 2016.
The Company expects revenue from continuing operations to be in
the range of $143 million to $145
million. This result is down approximately 14% from third
quarter 2015 revenue of $167.1
million.
"Q3 continued to be a challenging business environment," said
Tim Yates, CEO, Monster Worldwide.
"While we are gaining traction in North
America as a result of our new product initiatives and pay
per click business, the continued pressure on our core traditional
product offerings combined with the weakness in bookings in prior
quarters has resulted in a decline in third quarter 2016 revenue in
North America of 16% on a year
over year basis."
The Company intends to release complete results for the third
quarter of 2016 on October 21,
2016.
As previously announced on August 9,
2016, Monster entered into a definitive agreement with
Randstad under which Randstad will acquire Monster for $3.40 per share in cash. The transaction is
expected to close during the fourth quarter of 2016.
About Monster
Monster Worldwide, Inc. (NYSE: MWW) is a global leader in
connecting people to jobs, wherever they are. For more than 20
years, Monster has helped people improve their lives with better
jobs, and employers find the best talent. Today, the company offers
services in more than 40 countries, providing some of the broadest,
most sophisticated job seeking, career management, recruitment and
talent management capabilities. Monster continues its pioneering
work of transforming the recruiting industry with advanced
technology using intelligent digital, social and mobile solutions,
including our flagship website monster.com® and a vast array of
products and services. For more information visit
monster.com/about.
Cautionary Statement Regarding Forward-Looking
Statements
Statements in the Press Release
regarding the planned transaction, the expected timetable for
completing the planned transaction, future financial and operating
results, future capital structure and liquidity, benefits of the
planned transaction, general business outlook and any other
statements about the future expectations, beliefs, goals, plans or
prospects of the board or management of Monster Worldwide, Inc.
("Monster") include forward-looking statements. Any statements that
are not statements of historical fact (including statements
containing the words "expects," "intends," "anticipates,"
"estimates," "predicts," "believes," "should," "potential," "may,"
"forecast," "objective," "plan," or "targets" and other similar
expressions) are intended to identify forward-looking statements.
There are a number of factors that could cause actual results or
events to differ materially from those indicated by such
forward-looking statements, including: uncertainties as to the
timing of completion of the planned transaction, the ability to
obtain requisite regulatory approvals, the tender of a majority of
the outstanding shares of common stock of Monster, the possibility
that competing offers will be made and the satisfaction or waiver
of the other conditions to the consummation of the planned
transaction; the potential impact of the announcement or
consummation of the planned transaction on relationships, including
with employees, suppliers and customers; and the other factors and
financial, operational and legal risks or uncertainties described
in Monster's public filings with the Securities and Exchange
Commission (the "SEC"), including the "Risk Factors" sections of
Monster's Annual Report on Form 10-K for the year ended
December 31, 2015 and subsequent
Quarterly Reports on Form 10-Q, as well as the tender offer
documents filed and to be filed by Randstad North America, Inc. and
Monster. Forward-looking statements speak only as of the date the
statement was made.
Additional Information and Where to Find
It
Randstad North America, Inc.'s tender offer
for shares of Monster's common stock commenced on September 6, 2016, and, in connection with the
offer, Randstad North America, Inc. and its subsidiary, Merlin
Global Acquisition, Inc., filed a tender offer statement on
Schedule TO with the SEC and Monster filed a
solicitation/recommendation statement on Schedule 14D-9 with the
SEC. Monster's stockholders are strongly advised to read the
tender offer statement (including the offer to purchase, letter of
transmittal and related tender offer documents) and the related
solicitation/recommendation statement on Schedule 14D-9 filed by
Monster with the SEC because they contain important information
about the proposed transaction. These documents are available
at no charge on the SEC's website at www.sec.gov. In addition,
copies of the offer to purchase, letter of transmittal and other
related materials are available free of charge by contacting
MacKenzie Partners, Inc., the information agent for the tender
offer, toll-free at (800) 322-2885 (or at +1 212-929-5500 collect
if you are located outside the U.S. and Canada), or by email to
monster@mackenziepartners.com.
Monster and its directors and executive officers may be
deemed to be participants in the solicitation of consent
revocations from Monster stockholders in connection with the
consent solicitation conducted by MediaNews Group, Inc. and certain
of its affiliates. Information about Monster officers and directors
and their ownership of Monster shares is set forth in the proxy
statement for Monster's 2016 Annual Meeting of Stockholders, which
was filed with the SEC on April 28,
2016. Information about Monster officers and directors is
set forth in Monster's Annual Report on Form 10-K for the year
ended December 31, 2015, which was
filed with the SEC on February 11,
2016. Investors and security holders may obtain more
detailed information regarding the direct and indirect interests of
the participants in the solicitation of consent revocations in
connection with the consent solicitation conducted by MediaNews
Group, Inc. and certain of its affiliates by reading the
preliminary and definitive consent revocation statement statements
regarding the transaction, which may be filed by Monster with the
SEC.
In connection with the consent solicitation, Monster may
file a preliminary consent revocation statement with the SEC in
response to the consent solicitation. Monster's stockholders are
strongly advised to read such consent revocation statement
(including any amendments or supplements thereto) and any other
relevant documents that Monster will file with the SEC if they
become available because they contain important information. If
filed with the SEC, these documents will be available at no
charge on the SEC's website at www.sec.gov.
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SOURCE Monster Worldwide, Inc.