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UPDATE 1-Korn/Ferry expands in Britain and France

Thu Jun 11, 2009 4:07pm EDT

Stocks

   

* To create largest search firm in Britain and France

* Shares rise 4.7 pct to $12.18, highest since December

NEW YORK, June 11 (Reuters) - Korn/Ferry International (KFY.N) said on Thursday it will buy London-based Whitehead Mann for an unspecified sum to create the No. 1 executive search firm in Britain and France, sending its shares up 4.7 percent.

Whitehead Mann's client roster includes 90 of Europe's top 200 companies, Korn/Ferry said, and the company runs regional hubs in the Middle East, Asia and other parts of Europe.

Whitehead Chief Executive Piers Marmion will join Korn/Ferry as chairman of the Europe, Middle East and Africa region.

Korn/Ferry shares closed up 55 cents at $12.18, their highest since December.

Earlier this week, Korn/Ferry posted a wider-than-expected quarterly loss, reflecting a 36.5 percent decline in executive search engagements, and said revenues in the current quarter will be lower than Wall Street expected. [ID:nBNG455094] (Reporting by Nick Zieminski; Editing by Steve Orlofsky)



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