Gevity shareholders to decide TriNet merger May 20; approvals granted

By Lisa Kerner

Charlotte, N.C., April 15 - Gevity HR, Inc. shareholders will be asked to approve the company's acquisition by TriNet Group, Inc. at a special meeting at 10 a.m. ET on May 20.

The record date for the meeting is April 13, according to a Gevity news release.

In March, Gevity agreed to be taken private by TriNet in an all-cash transaction valued at $4 per share.

The transaction has been approved by the State of Arkansas, and the State of Florida licensing authority approved Gevity's license change, TriNet said.

In addition, the Hart-Scott-Rodino waiting period expired without a request for additional information from the Federal Trade Commission.

The merger is expected to close in late May, subject to approval by Gevity's shareholders.

TriNet is a privately held provider of human resource outsourcing services for small businesses. The company is based in San Leandro, Calif.

Gevity is a Bradenton, Fla.-based provider of payroll, insurance and human resource outsourcing services to small and medium-sized businesses.

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