Ceridian rebuffs fund's bid to top takeover deal

(Reuters) - "The Board has concluded that you have not made an offer
which we can evaluate to determine if it may result in a
Superior Proposal in accordance with the standards set forth in
the merger agreement," White Matthews, chairman of Ceridian's
board, wrote to Ackman on Thursday.




The letter was made public in a regulatory filing.


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Bain, Blackstone among Ceridian bidders - sources

(Reuters) - But a major Ceridian shareholder, hedge fund manager William Ackman, is pushing for a spin-off of the company's fast growing Comdata division.

Two corporations are also bidding for the company, the sources said, but it was unclear which companies were involved. Whether Bain and Blackstone are bidding as a team or separately was also unclear. Ceridian has a market value of $4.6 billion.


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