Career Holdings, Inc., Extends Tender Offer for HeadHunter.Net, Inc.
RESTON, Va., Oct. 17 /PRNewswire/ -- Career Holdings, Inc., today said
that it has extended the expiration date of its tender offer for
HeadHunter.Net, Inc. (Nasdaq: HHNT), to 5:00 p.m., New York City time, on
Tuesday, October 23, 2001. The tender offer was previously scheduled to
expire at 5:00 p.m., New York City time, on Tuesday, October 16, 2001. The
tender offer period has been extended because the applicable waiting period
under the Hart-Scott-Rodino Antitrust Improvements Act has not yet expired or
On August 31, 2001, CB Merger Sub, Inc., a wholly owned subsidiary of
Career Holdings, commenced its previously announced tender offer for all of
the shares of common stock of Headhunter at $9.25 per share, net to the
seller, in cash. Career Holdings is the parent of CareerBuilder, Inc., and is
principally owned by Tribune Company (NYSE: TRB) and Knight Ridder Digital, a
subsidiary of Knight-Ridder, Inc. (NYSE: KRI). As a consequence of the
extension of the expiration date of the tender offer, holders of Headhunter
common stock may tender or withdraw shares until 5:00 p.m., New York City
time, on Tuesday, October 23, 2001, unless the tender offer period is further
The Headhunter tender offer is being made pursuant to a merger agreement
dated August 24, 2001, among Headhunter, Career Holdings and CB Merger Sub. On
September 17, 2001, the Federal Trade Commission requested additional
information and documents pursuant to the Hart-Scott-Rodino Antitrust
Improvements Act, which extended the waiting period under the Act until 11:59
p.m., Eastern time, on the tenth calendar day after the date of substantial
compliance with the request unless the Federal Trade Commission decides to
terminate the waiting period earlier. The expiration or termination of this
waiting period and satisfaction or waiver (if applicable) of other conditions
are required to complete the tender offer.
American Stock Transfer & Trust Company, the depositary for the tender
offer, has advised Career Holdings that as of 5:00 p.m. New York City time, on
October 16, 2001, approximately 100% of the Headhunter shares currently
outstanding were validly tendered and not withdrawn (including shares subject
to guaranteed deliveries) pursuant to the tender offer. Georgeson Shareholder
Communications Inc. is the information agent.
This news release does not constitute an offer to purchase or a
solicitation of an offer to sell any securities. The complete terms and
conditions of the tender offer are set forth in an offer to purchase and
related letter of transmittal, which are included in a tender offer statement
filed by Career Holdings, CB Merger Sub, Knight Ridder Digital and Tribune
Company with the Securities and Exchange Commission. Headhunter has filed a
solicitation/recommendation statement with respect to the tender offer. The
offer to purchase, letter of transmittal and solicitation/recommendation
statement were mailed to Headhunter shareholders. The tender offer statement
(including the offer to purchase, letter of transmittal and related documents)
and the solicitation/recommendation statement are also available for free on
the Commission's Web site at http://www.sec.gov.
None of Career Holdings, Headhunter, Tribune or Knight Ridder is
responsible for updating the information contained in this press release
beyond the published date, nor for changes made to this document by wire
services or Internet service providers.
About CareerBuilder, LLC
CareerBuilder is the leading provider of targeted Web recruiting. Through
the CareerBuilder Network, employers can post jobs to pinpoint exactly the
right candidates by location, industry or diversity. Job seekers can
instantly search the Internet's best career sites, in just a couple of clicks.
CareerBuilder also provides personalized career services and advice. The
CareerBuilder Network is the most powerful career network on the Web,
including careerbuilder.com -- the flagship career center -- and the career
centers of premier destination sites including MSN, Bloomberg.com,
iVillage.com and latimes.com, Philly.com, chicagotribune.com and BayArea.com.
About HeadHunter.NET, Inc.
Headhunter, a leading national online recruiting and job awareness
network, empowers candidates and corporations to manage the job search
process. The site features more than two million resumes and jobs
representing 10,000 of the nation's top employers across virtually every
industry. Attracting more than eight million job seeker visits a month,
Headhunter distinguishes itself by providing job seekers privacy when
searching and applying for jobs, and allows job seekers and job posters to
manage and track the visibility and performance of their listings. Headhunter
is based in Atlanta, Georgia, with offices nationwide.
About Knight-Ridder, Inc.
Knight Ridder is the nation's second-largest newspaper publisher, with
products in print and online. The company publishes 32 daily newspapers in 28
U.S. markets, with a readership of 8.5 million daily and 12.6 million Sunday.
Knight Ridder also has investments in a variety of Internet and technology
companies and two newsprint companies. The company's Internet operation,
Knight Ridder Digital, creates and maintains a variety of online services,
including Real Cities (http://www.RealCities.com ), a national network of city
and regional destination sites in 55 U.S. markets. Knight Ridder and Knight
Ridder Digital are located in San Jose, Calif.
About Tribune Company
Tribune is one of the country's premier media companies, operating
businesses in broadcasting, publishing and on the Internet. It reaches more
than 80 percent of U.S. households, and is the only media company with
television stations, newspapers and Web sites in the nation's top three
Christine Hennessey, Tribune Co.
Cynthia Funnell, Knight Ridder Digital
Ruthellyn Musil, Tribune Co.
Polk Laffoon, Knight-Ridder, Inc.
CareerBuilder Media Contact
For all media inquiries and interview requests, contact: