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Ceridian Mulling Options

The move comes amid a shareholder revolt led by hedge fund manager Bill Ackman.


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shares jumped 8% Tuesday after the company said it is evaluating strategic alternatives.

The human resources and data processing outfit hired Greenhill & Co. to help it explore strategic alternatives to enhance shareholder value. The move comes amid a shareholder campaign led by hedge fund manager Bill Ackman to unseat the company's board.

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"Our board is committed to taking all appropriate and necessary action to enhance value for all Ceridian stockholders," the company said

Separately, Cerdian posted fourth-quarter earnings of $49.6 million, or 35 cents a share, up from $46.7 million, or 32 cents a share, a year earlier. Revenue rose to $404 million from $379.5 million.

Analysts polled by Thomson First Call expected earnings of 33 cents a share on revenue of $409.5 million.

For 2007, Ceridian forecast earnings of $1.25 to $1.35 a share, before any one-time items, on revenue of $1.65 billion to $1.7 billion. Analysts project earnings of $1.29 a share and revenue of $1.7 billion.

Shares of Ceridian recently were up $2.48 to $33.20.