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UPDATE 1-Gevity shareholders approve merger with TriNet

Wed May 20, 2009 6:26pm EDT

* Shareholders approve takeover by TriNet

*CEO, CFO to quit following merger

May 20 (Reuters) - Human resource firm Gevity HR Inc GVHR.O said its shareholders approved its acquisition by TriNet Group Inc.

Separately, in a filing with the Securities and Exchange Commission, Gevity said it provided employment termination notices to some of its top executives, including Chief Executive Michael Lavington and Chief Financial Officer Garry Welsh.

The company said the notices of termination were effective June 1, 2009 -- the expected date for the closure of the merger.

In March, Gevity said it would be taken private by human resources outsourcing provider TriNet for $98 million in cash and the combined company would be led by TriNet's chief executive Burton Goldfield.

Shares of Gevity closed at $4 Wednesday on Nasdaq. (Reporting by A.Ananthalakshmi in Bangalore; Editing by Aradhana Aravindan) ((ananthalakshmi.as@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: ananthalakshmi.as.reuters.com@reuters.net))



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