CareerBuilder + Monster, a global talent marketplace and workforce solutions company, initiated a court-supervised sale process aimed at maximizing value, preserving jobs and seamlessly transitioning ownership of the businesses. The company has entered into an asset purchase agreement with JobGet for the sale of its job board business, which provides a talent marketplace connecting employers with job candidates. Additionally, CareerBuilder and Monster have entered into an asset purchase agreement with Valnet for the sale of Monster Media Properties, and an asset purchase agreement with Valsoft Corporation for the sale of Monster Government Services. With the support of each of the “stalking horse” buyers and to facilitate the sales, the company initiated a voluntary Chapter 11 process in the U.S. Bankruptcy Court for the District of Delaware. The sales are subject to any higher or otherwise better bids during the Chapter 11 process.
Latham & Watkins represented CareerBuilder + Monster in the process with a restructuring and special situations team led by New York partners Ray Schrock and Candace Arthur and London partner Jessica Walker, with associates Jonathan Gordon, Allie Lisner, Alex McKenzie, John Zhang and Ben Russell, with assistance from Montana Licari. Advice on corporate matters was provided by New York partners Rick Press and Michael Anastasio and New York counsel Ben Kaplan and Richard Quay, with associates Victor Wang, Christopher Lim, Josh Barkow, and Mary Ann Gallucci, with assistance from Shoumick Hasan and Wendy Li; on tax matters by Chicago partner Joseph Kronsnoble, with associates Lukas Kutilek and Joyce Shin; on intellectual property matters by Washington, D.C. partner Morgan Brubaker, with associate Julian Savelski; on antitrust matters by San Francisco partner Joshua Holian, with associate Doug Tifft; on executive compensation, employment, and benefits matters by Washington, D.C. partner Erin Murphy and New York counsel Rifka Singer; on CFIUS matters by counsel Catherine Hein; on banking matters by New York partner Scott Ollivierre, with associate Kate Waterman; on data privacy matters by Houston partner Robert Brown, with associate Stuart Cobb; on real estate matters by counsel Jeffrey Anderson; on labor & employment matters by Chicago partner Nineveh Alkhas and counsel Laura Waller; and on insurance matters by San Diego partner Drew Gardiner.
