HR Industry News

Acquisition of Ceridian completed

— 12 November 2007 —

For us, and for our customers, this is a very positive change. THL Partners and FNF are reputable organizations that acquired Ceridian because they believe in our management team, in our employees and in the strengths of our business.

Kathryn V. Marinello, President
and Chief Executive Officer of Ceridian

Ceridian Corporation, Thomas H. Lee Partners, L.P. (THL Partners) and Fidelity National Financial, Inc. (FNF) today announced that THL Partners and FNF have completed the acquisition of Ceridian for approximately $5.3 billion.

"We are very excited about the acquisition of Ceridian," said FNF Chairman and Chief Executive Officer William P. Foley, II. "Ceridian provides FNF with a company that has leading market positions in large, growing markets, long- term customer relationships, recurring revenue, strong cash flow and a significant margin expansion opportunity. We look forward to the opportunity it provides for us to continue to create significant long-term value for FNF shareholders."

Under the terms of the merger agreement, Ceridian stockholders are entitled to receive $36.00 in cash, without interest, for each share of Ceridian common stock that they hold. Ceridian common stock ceased trading on the NYSE before commencement of trading on November 9, 2007 and will be de-listed from the NYSE.

Letters of transmittal allowing Ceridian stockholders of record to deliver their shares to the paying agent in exchange for payment of the merger consideration will be distributed promptly after the closing. Stockholders of record should be in receipt of the letter of transmittal before surrendering their shares.

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