DHR International, Inc. made a bid to acquire CTPartners Executive Search Inc. (AMEX:CTP) for $50.8 million on February 4, 2015. DHR would acquire all outstanding shares of CTPartners at $7 per share. Bank of Montreal is funding the acquisition for DHR.

As of February 23, 2015, DHR International has acquired 0.45 million shares of CTPartners Executive Search. The special committee of the CTPartners's Board of Directors has agreed to negotiate exclusively with DHR for a limited period of time in an effort to reach a definitive agreement. All terms of any definitive agreement, including price, will be subject to completion of confirmatory due diligence to the satisfaction of DHR and negotiation between the parties. Robert W. Baird & Co. Incorporated acted as financial advisor for the special committee of Independent Directors of CTPartners Executive Search Inc. Jeffrey Golman of Mesirow Financial Holdings, Inc. acted as financial advisor and Thomas A. Litz and Andrew Klinghammer of Thompson Coburn LLP acted as legal advisor for DHR International, Inc.

DHR International, Inc. cancelled the acquisition of CTPartners Executive Search Inc. (AMEX:CTP) in the week ending June 19, 2015. The exclusivity period for the negotiations with DHR International Inc. regarding an acquisition of CTPartners expired late last week with no definitive agreement for the sale of CTPartners as a whole having been reached.