MediaNews Group ups its opposition to Randstad-Monster deal, calling it a 'fire sale'

DENVER BUSINESS JOURNAL - MediaNews Group, the parent company of the Denver Post, is increasing its vehement opposition to Randstad North America Inc.'s $429 million proposal to acquire Monster Worldwide Inc.

MediaNews Group, owner of about 11.6 percent of Monster's stock, called the deal a "fire sale," and is asking Monster shareholders to nix the proposed deal and replace existing Monster board members with members of its own choosing.

Randstad is offering $3.40 per share for Monster; an amount that MediaNews called "selling at the bottom" when it initially opposed the deal back in August.

Now in a Monday statement, MediaNews says "the proposed sale to Randstad at a fire sale price resulted from a rushed and flawed process and it significantly undervalues the company."

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