Tags: Pershing Square

ADP rejects Pershing Square ahead of vote

ADP has once more rejected Pershing Square’s demands after a meeting with the ADP board. This time ADP has appeared to give Pershing Square time to voice their opinions in a meeting with the full board at ADP on September 5th. At that meeting Pershing Square requested that rather than replace existing directors, the original…

Candidates for board unanimously rejected by ADP

ADP has issued a press release to confirm that all three of Pershing Squares candidates were unanimously rejected by ADP’s Board Nominating/Corporate Governance Committee. This means that the candidates will not be put forward for nomination at the Annual shareholder meeting. This may be a blow, but probably not unexpected to Williams Ackman. Those three…

Ackman reveals his hand in ADP gambit

Last night William Ackman, CEO Pershing Square Capital Management presented a massive analysis of the current state of ADP. The ADP initial reaction to Pershing Square Capital Managements comprehensive presentation was to brush it off. The language used was similar to that made in earlier statements. There was one statement that referred directly to the…

Ackman promises to unveils ADP problems

Correction below : Please see comment at bottom of article The battle to influence ADP by the billionaire Bill Ackman continues with Pershing Square naming and nominating three directors to the ADP board. This could be seen as a climb down by Ackman after he previously requested to nominate five several  directors and potentially moving…