06/04/2013

Heidrick & Struggles (HSII) surged on Private Equity Bids

Virtual Value Portfolio holding Heidrick & Struggles (HSII) surged on Private Equity Bids

At least two private equity firms have submitted non-binding proposals to acquire Heidrick & Struggles.

HSII logo

One unidentified party planned to offer a price of $17-$19 per share.

Blackstone (BX) may be prepared to offer $18.50-$20. HSII was trading for $17.56 after hours - up 21.88% from last week's closing quote.

We purchased  250 HSII shares @ $12.02 on October 26, 2012. It was one of the original components of our Virtual Value Portfolio.

We also own shares of Korn Ferry (KFY), another publicly traded company in the same basic industry group. KFY is up by 31.6% from our purchase price.

Lesson: Buy well and show some patience.

 

Jun 4, 2013 12:00:00 AM | Appears on main page, Value Investing

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I'm editor at Phil's Stock World, and editor for Stock World Weekly. My background is in the biological sciences, and law. After a brief career in the legal field, I changed directions and am now working as an editor, and very much enjoying my experiences in the editing world.

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