ROSELAND (dpa-AFX) - ADP (ADP) announced that its board has approved the share distribution ratio for the spin-off of CDK Global from ADP.
As previously announced, ADP expects that after the market close on the distribution date of September 30, 2014, the two companies will be separated through a distribution of shares of CDK Global to ADP shareholders. On that date, ADP shareholders of record after the market close on September 24, 2014, the record date for the distribution, will receive one share of CDK Global common stock for every three shares of ADP common stock held.
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