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MediaNews plans to oust Monster's board in attempt to scuttle deal
September 30, 2016 / 12:32 PM / a year ago

MediaNews plans to oust Monster's board in attempt to scuttle deal

NEW YORK, Sept 30 (Reuters) - MediaNews Group Inc., the second largest U.S. newspaper company, said on Friday it plans to nominate seven candidates to replace the entire board of directors at Monster Worldwide, Inc., stepping up its battle against the online jobs recruiter.

Monster agreed in August to a $429 million acquisition offer from Randstad, the world’s second largest staffing company, as the Dutch company seeks to expand into the United States and into online recruiting.

Ten days after the announcement of that deal, MediaNews said it bought an 11.6 percent stake in Monster and that it opposed the Randstad acquisition. MediaNews repeated its concerns about the deal on Friday. (Reporting by Michael Flaherty; Editing by Bernadette Baum)

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