1. Here's How Bill Ackman Is Trying to Appeal to Big Investors In ADP Battle

    Here's How Bill Ackman Is Trying to Appeal to Big Investors In ADP Battle

    Embattled billionaire activist Bill Ackman late Friday appealed to institutional investors in his boardroom battle at Automatic Data Processing ( ADP ) by urging the payroll processor to set up an election system giving shareholders more flexibility to pick among dissident director candidates and incumbent board members...

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    1. We believe that it is incumbent upon Pershing Square and the company to pursue this approach for the benefit of all stockholders who via use of a universal proxy card would be afforded the opportunity to vote for the combination of candidates of their choice.
    2. We hereby request that the company arrange for its nominees to provide their consent to being named in the Pershing Square proxy statement and to serve on the board if elected.
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