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Joele Frank handles CareerBuilder + Monster as it declares Chapter 11 and uses the reorganization to pave the way for the sale of its assets.
CB+M CEO Jeff Furman said the company, which helps job seekers connect with future employers, has been hurt by the challenging and uncertain macroeconomic environment.
In light of those conditions, CB&M ran a robust sales process and determined the court-supervised process “is the best path toward maximizing the value of our businesses and preserving jobs,” according to Furman.
CB+M is selling its job board business to JobGet Inc., its Monster Media Properties to Valunet Inc., and the Monster Government Services unit to Valsoft Inc. The company is mulling the future of its overseas units.
Furman noted the decision to downsize and reduce costs was a difficult one. “As a company in the business of people and talent management, reducing our workforce is always a painful step to take,” he said.
He thanked staffers for the commitment and passion they have shown to the company, clients and colleagues.
Joele Frank, Wilkinson Brimmer Katcher’s Aaron Palash, Carleigh Roesler and Jenna Shinderman represent CB+M.
Teneo represents American Ocean Minerals Corp as its merges with NASDAQ-listed Odyssey Marine Exploration to create a $1B deep-sea critical minerals research and mining platform that is under US-control.
Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
FTI Consulting handles media for McCormick as the 137-year-old flavors company combines with Unilever Foods in a deal valued at $45B.
Edelman Smithfield handles Sysco as the world's largest food-away-from-home distributor acquires Foxcroft Strategy Group client Jetro Restaurant Depot, which serves delis and mom & pop shops, in a deal valued at $29B.
FGS Global represents Brown-Forman Corp. as it confirms merger discussions with French liquor giant Pernod Ricard.
