Ropes & Gray is advising Advent International in a definitive agreement between a consortium of investors led by Advent and Corvex Private Equity to acquire all of Heidrick & Struggles International’s outstanding public shares. Heidrick & Struggles is a provider of global leadership advisory and on-demand talent solutions, serving the senior-level talent and consulting needs of the world's top organizations. The transaction was announced in an Oct. 6 press release.
The all-cash transaction values Heidrick & Struggles’ equity at approximately $1.3 billion and will enable the company to return to private ownership. Under the terms of the agreement, Heidrick stockholders will receive $59.00 per share in cash, representing a premium of approximately 26% to Heidrick's 90-day volume-weighted average price per share.
The Ropes & Gray team included private equity partners Christian Westra and Matt Richards, M&A partner Tom Fraser, tax partner Adam Greenwood, litigation & enforcement partner Ruchit Patel, and private equity associate Merry Sheehan.
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