Gevity Ripe for Taking ‘Strategic Transaction’ Touted

By Staff Report

Jun. 5, 2008

Is Gevity HR the next takeover target?

That was one of the rumors making the rounds this week after General Atlantic, one of Gevity’s investors, hinted the company could benefit from a merger with TriNet Group Inc., a San Francisco-based human resources company.

In a May 27 filing with the U.S. Securities and Exchange Commission, Greenwich, Connecticut-based General Atlantic says “there there may be benefits to exploring a potential strategic transaction” between the two firms, though no offer is believed to have been made.

General Atlantic own 9.5 of Gevity, or 2.2 million shares that were obtained for “investment purposes.” That makes it the second-largest investor in Gevity, a professional employer organization headquartered near Bradenton, Florida.

—Garry Kranz

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