The $5.3 billion buyout of Ceridian makes the company the latest among a number of HRO providers to go private. The offer was made by private equity firm Thomas Lee Partners and Fidelity National Financial and is expected to close in the fourth quarter. The price represents a 5% premium.
ACS founder and chairman Darwin Deason has been working to take his company private. Similarly in March, Kronos was acquired by private equity firm Hellman & Friedman Capital Partners for $1.8 billion.
"My immediate thought is, who is next?" says Neil McEwen, managing consultant at PA Consulting. "And my immediate answer would be Hewitt Associates." Rumors have been circulating for months that Hewitt, which has been struggling to revive its HR BPO business, might go private to get away from shareholder scrutiny. Jennifer Frighetto, a Hewitt spokeswoman, declined to comment.
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An earlier (Dec 06) article that made the same suggestion...
http://www.workforce.com/section/00/article/24/61/74.html
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