Heidrick & Struggles Cashes In
Heidrick & Struggles International Inc., an executive search firm, announced Friday it earned nearly $130 million for stock it received for helping Google find CEO Eric Schmidt back in 2001. Google was forced to offer the stock in lieu of having actual monies to offer the firm, a deal that was a throwback to the dot-com boom era. Normally this search would have yielded about $100,000-200,000. Guess Heidrick & Struggles is pretty happy with the deal now. They sold the stock for an average of $108.22 a share, slightly less than the street value, but much better than the terrible deal Yahoo got for its shares last month.
- posted by Nathan Weinberg @ 9/19/2004 01:51:00 AM