June 4, 2013 – Executive search firm Heidrick & Struggles International has confirmed that it is exploring "strategic alternatives" about the possible sale of the company. The Financial Post, a Canadian publication, has reported that the private equity arm of The Blackstone Group is in discussions with publicly-traded Heidrick, the fourth largest global executive recruiter, to acquire the company for $18 to $20 per share. "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 confirmed that it has been approached on a preliminary basis regarding a possible sale of the company," said a statement released by the company. "Executive recruiters have been facing a host of pressures, from weak hiring markets and burgeoning social media technologies to direct competition from their clients," said Scott A. Scanlon, managing director of market research firm HSZ Media. "These destabilizing forces are creating one of the most significant paradigm shifts in the history of this business." Mr. Scanlon said the imminent sale of Heidrick comes as no real surprise: "It has been rumored for some time now. The clarification issued by Heidrick simply confirms it." HSZ Media is releasing a groundbreaking report on the recruiting industry next week focused on the radical realignment underway in the talent management sector.
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