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Stock Market & Financial Investment News

News Breaks
March 3, 2014
08:06 EDTCTPCTPartners acquires Johnson Executive Search
CTPartners announced that it has acquired Johnson Executive Search, an independent executive search firm based in Sydney, Australia. On January 16, the company announced it had signed a Letter of Intent to acquire Johnson. Following the close of transaction, Johnson’s six executive search consultants will increase the company’s consultants to 134. The company said, "Acquiring Johnson further establishes our geographic footprint in the Asia Pacific region, an area that is anticipated to experience accelerated growth over the coming years. Its senior partners have experience and expertise working with some of Asia’s leading companies, so their presence will strengthen our ability to provide clients with quality service and results on a global scale. In addition to its strategic value Johnson will be accretive to earnings in FY14.”
News For CTP From The Last 14 Days
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February 24, 2015
09:46 EDTCTPCTPartners' board forms special committee to review strategic alternatives
CTPartners Executive Search announced that its Board of Directors has formed a Special Committee, composed solely of independent directors, to review strategic alternatives for the company, including a previously announced unsolicited, non-binding proposal from DHR International to acquire all of the outstanding shares of the company for $7.00 a share and a range of other alternatives. The Special Committee has engaged Robert W. Baird & Co. to serve as its financial adviser. The company does not currently plan to provide interim updates on the Special Committee's work, and does not expect to report on the strategic review process until the Special Committee has completed the process and made its recommendation to the full Board of Directors for its consideration and action, if any. The Special Committee has not established a timetable and there is no assurance that the review process will result in any transaction being announced or completed.
February 23, 2015
09:02 EDTCTPDHR International says increases stake in CTPartners to over 5%
DHR International reported that it has increased its position to more than 5% in CTPartners Executive Search. DHR submitted a formal written acquisition proposal to CTPartners’ Board of Directors earlier this month to acquire 100% of the equity of the Company. DHR will shortly file a Schedule 13D with the Securities and Exchange Commission to report its beneficial ownership of 449,501 shares of CTPartners, which it believes makes it CTPartners’ 4th largest shareholder. DHR’s acquisition proposal to the board of CTPartners valued the company at $7.00 per share for a total of $61M in cash. The takeover bid was submitted by Geoffrey Hoffmann, CEO of DHR, after CTPartners CEO Brian Sullivan rejected a verbal proposal. “This is an exciting development for everyone at DHR,” comments Geoff Hoffmann, CEO of DHR International. “We continue to strongly believe that the combined companies will have tremendous value for the clients and employees of both. Though CTPartners has been confronted with widely reported challenges recently, we believe the core of CTPartners remains intact and attractive. We are determined to pursue every means available to complete a business combination. We are hopeful that CTPartners’ board will engage with us soon in substantive and meaningful discussions regarding a transaction that will benefit its shareholders, as well as its employees, including its professional staff.”

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