Yahoo, Hotjobs.com merger gets closer

NEW YORK ó Internet media firm Yahoo! Inc. (YHOO.O) and online job finder HotJobs.com Ltd. (HOTJ.O) said on Monday their planned merger has taken a step closer to completion, after the government granted early termination of the waiting period required under antitrust laws.

The Department of Justice and the Federal Trade Commission have granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, for Yahoo's acquisition of HotJobs.com.

Termination of the waiting period satisfies one of the conditions for Yahoo's purchase of HotJobs.com, said the companies in a statement.

Yahoo won a bidding contest for HotJobs.com over rival suitor TMP Worldwide Inc. (TMPW.O) last December. It agreed to pay $10.50 per HotJobs.com share in a cash and stock deal valuing the company at $436 million.

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