On 23 March, we completed the exit of our hedges generating proceeds of $2.6bn for the Pershing Square funds, compared with premiums paid and commissions totaling $27m.In Bill Ackman Claims Firm Made $2.6B Betting on Coronavirus Outbreak
ADP's Board is concerned that Pershing Square's extreme, swing-for-the-fences proposals and unqualified nominees would disrupt client services and damage relationships, putting ADP – and the value of shareholders' investments – at significant risk.In Ackman Targets Retail Investors in ADP Proxy Contest
Glass Lewis finds validity in (Bill Ackman's firm) Pershing Square's overall thesis and we have determined that a sufficient basis exists to support the Dissident's solicitation for minority representation on the ADP board.In Glass Lewis Recommends ADP Investors Vote for Ackman's Slate