Ceridian Board Authorizes Exploration Of Alternatives To Enhance Shareholder Value
MINNEAPOLIS (February 13, 2007) – Ceridian Corporation (NYSE: CEN) today announced that its Board of Directors has decided to explore a broad range of strategic alternatives to enhance shareholder value. The Board has retained Greenhill & Co., LLC as its financial advisor and Wachtell, Lipton, Rosen & Katz as legal advisor to assist in this effort.
The Company stated:
“Our Board is committed to taking all appropriate and necessary action to enhance value for all Ceridian stockholders. As the Board reviews the broad range of alternatives available, we have a solid management team whose attention remains firmly rooted on driving execution within the business. The Company and the Board are open-minded about strategic alternatives, and we intend to evaluate all the options carefully and thoughtfully.”
The Company noted that there can be no assurance that the exploration of strategic alternatives will result in any transaction. The Company does not intend to disclose developments with respect to the exploration of strategic alternatives unless and until its Board of Directors has approved a specific transaction.
Source: Ceridian
