Heidrick & Struggles May Be For Sale
If Heidrick & Struggles ever wants to sell itself, it won't have to struggle to attract a buyer.
That's the upshot of recent media reports that at least two private-equity firms are making bids to buy the company, and late Monday evening, these reports prompted a response from Heidrick:
"While it is the long standing policy of Heidrick & Struggles not to confirm or deny market rumors or speculation, in response to media reports the company today confirmed that it has been approached on a preliminary basis regarding a possible sale of the company."
Heidrick was apparently sufficiently intrigued by the offer that it says its board of directors is in fact now exploring "strategic alternatives" for its business, up to and including "a possible sale of the company."
Heidrick is quick to point out, however, that there is no guarantee a sale will take place at the rumored valuation ($17 to $20 per share), or indeed at all. In the event no sale occurs, though, the company says its "standalone strategic plan provides attractive growth opportunities for its consultants and associates and can build value for its shareholders."
Shares of Heidrick rose 1.7% in Tuesday trading on the news, closing at $17.55.
The article Heidrick & Struggles May Be For Sale originally appeared on Fool.com.
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