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What: Shares of job matchmaker Monster Worldwide (NYS: MWW) are roaring higher today, enjoying gains of 24% at the high, on speculation that the company may try to sell itself.
So what: This speculation has some legs to it, since the comments came directly from management today. At an investor conference, CEO Sal Iannuzzi said that the board and management are "pursuing all strategic alternatives to increase shareholder value."
Now what: Those words are certainly a tad vague, but "pursuing strategic alternatives" is a common euphemism for "We want to sell the company." Ianuzzi also added, "Our shareholders deserve a better return," and that he considers the company undervalued compared to rivals. He did say that Monster is not interested in making acquisitions, and would return any excess cash to shareholders through stock repurchases.
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At the time thisarticle was published Fool contributorEvan Niuholds no position in any company mentioned.Click hereto see his holdings and a short bio. Try any of our Foolish newsletter servicesfree for 30 days. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
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