Pershing Square Update on ADP – November 3, 2017
03 Novembro 2017 - 5:37PM
Business Wire
Pershing Square Holdings, Ltd. (LN:PSH) (NA:PSH) today released
an email sent from Pershing Square Capital Management, L.P. to its
investors. The text of the email is set forth below:
Dear Pershing Square Investor,
We write to update you on this week’s activity related to our
position in Automatic Data Processing, Inc. (NASDAQ: ADP).
Pershing Square Highlights 15 Irrefutable Facts about ADP’s
Opportunity for Improvement – November 3, 2017
Pershing Square Responds to ADP’s Fiscal Year 2018 Q1 Results –
November 2, 2017Pershing Square states that ADP’s underwhelming
results highlight the need for change.
Presentation to Shareholders - November 1, 2017Pershing Square
summarizes its plan to transform ADP to drive meaningfully higher
margins and growth and addresses certain misleading information
that ADP has communicated to shareholders.
Letter to ADP’s Board - November 1, 2017Bill Ackman sends a
letter to ADP’s Board which assures them that Pershing Square is
committed to working constructively with the Board and management
while expressing disappointment about ADP’s continued misleading
statements.
Pershing Square Releases Third in a Series of Videos for
Shareholders – October 31, 2017Pershing Square releases a video in
which Pershing Square’s nominees to the ADP Board discuss their
plans for ADP’s future and answer questions from an independent
third-party analyst.
Letter to ISS - October 30, 2017Pershing Square sends a letter
to Institutional Shareholder Services expressing concern that ADP
provided ISS with non-public, inaccurate and misleading
information, claims, and arguments which were relied upon by ISS as
it made its recommendation.
Press Release Regarding ADP’s Misleading Margin Claims – October
30, 2017Pershing Square asks ADP to provide support for, or
retract, its unsupported claim that its plan will deliver “500
basis points” of margin expansion over the next three years.
If you have any questions, please feel free to contact us.
Kind regards,
Pershing Square Investor Relations
ir@persq.com
About Pershing Square Holdings, Ltd.
Pershing Square Holdings, Ltd. (LN:PSH) (NA:PSH) is an
investment holding company structured as a closed-ended fund that
makes concentrated investments principally in North American
companies.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171103005850/en/
Media:MaitlandJames Devas, +44 20 7379
5151Media-pershingsquareholdings@maitland.co.uk
Automatic Data Processing (NASDAQ:ADP)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Automatic Data Processing (NASDAQ:ADP)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024