In the midst of a sale to Randstad Holding NV that is opposed by its largest shareholder, Monster Worldwide Inc. (NYSE: MWW) today reported it expects to report third-quarter revenue to fall 14% year over year with revenue to range between $143 million and $145 million. Final third-quarter results will be released Oct. 21.

 “Q3 continued to be a challenging business environment,” said CEO Tim Yates. “While we are gaining traction in North America as a result of our new product initiatives and pay per click business, the continued pressure on our core traditional product offerings combined with the weakness in bookings in prior quarters has resulted in a decline in third quarter 2016 revenue in North America of 16% on a year over year basis.”

Global staffing provider Randstad Holding NV in August agreed to acquire Monster for an enterprise value of approximately $429 million; MediaNews Group, Monster’s largest shareholder with an 11.6% ownership stake, opposes the deal and is seeking to replace the existing seven Monster directors as well as Yates.

Monster reported in a Securities and Exchange Commission filing that the European Commission is expected to complete its review of the deal by Oct. 26, and the acquisition is expected to close this quarter.

The company included material in the finding indicating that it actively engaged with two private equity firms and three strategic buyers over the past six months, but only Randstad submitted a written, detailed offer.

MediaNews acquired almost half its 11.6% stake before the announcement of the Randstad deal and the rest on the day of the announcement, according to the Monster report. “MNG is asking stockholders to reject an all-cash, premium offer in exchange for the hope that an undisclosed, uninformed strategy led by a hastily assembled slate of candidates will deliver significantly greater value sometime in the future,” Monster argued in an SEC filing.

Shares in Monster edged down 0.43% in early afternoon trading today to $3.49 and the company had a market cap of $311.31 million, according to Yahoo.