ADP and ProBusiness Receive Request for Additional Information From the Department of Justice.Business Editors ROSELAND, N.J.--(BUSINESS WIRE)--Feb. 14, 2003 Automatic Data Processing Same as data processing. , Inc. (NYSE NYSE See: New York Stock Exchange :ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. ) announced that the Department of Justice, Antitrust Division (DOJ (Department Of Justice) The legal arm of the U.S. government that represents the public interest of the United States. It is headed by the Attorney General. ), has requested additional information and documentary material in connection with its review of ADP's proposed acquisition of ProBusiness Services, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :PRBZ). The DOJ request will result in an extension of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act The Hart-Scott-Rodino Antitrust Improvements Act of 1976 (Public Law 94-435, known commonly as the HSR Act) is a set of amendments to the antitrust laws of the United States, principally the Clayton Antitrust Act. The HSR Act was signed into law by President Gerald R. of 1976. ADP and ProBusiness plan to respond promptly to the DOJ request. ADP and ProBusiness announced on January 6, 2003 that they had entered into a definitive agreement providing for ADP's acquisition of ProBusiness for $17.00 per common share. ADP, with over $7 billion in revenues and 500,000 clients, is one of the largest independent computing services firms in the world. This release contains "forward-looking statements" based on management's expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ from those expressed. Factors that could cause differences include: ADP's success in obtaining, retaining and selling additional services to clients; the pricing of products and services; changes in laws regulating payroll taxes and employee benefits; overall economic trends, including interest rate and foreign currency trends; stock market activity; auto sales and related industry changes; employment levels; changes in technology; availability of skilled technical associates; and the impact of new acquisitions. ADP disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. |
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