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Why Monster Worldwide (MWW) Stock Is Soaring Today

NEW YORK (TheStreet) -- Shares of Monster Worldwide (MWW) were up 22.92% to $3.40 on heavy trading volume early Tuesday morning after agreeing to be acquired by Randstad (RANJY) for $429 million and reporting second-quarter results.

The world's second-largest staffing company has bid $3.40 per share for each Monster share, representing a 23% premium to Monster's Monday closing price.

Randstad said it will finance the transaction through existing credit facilities. It expects the deal to close in the 2016 fourth quarter.

Before the market open, Monster Worldwide separately announced financial results for the 2016...


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