Bill Ackman: I Won’t Insist on Replacing ADP Directors

(New York Post) Bill Ackman told ADP his activist hedge fund is willing to accept three seats on an expanded board rather than replace three directors.The activist hedgie behind Pershing Square Capital, who had been looking to unseat three of the paycheck processor’s board members at the company’s annual meeting next month, said he now is hoping the 10-member board will expand to 13.

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