NEW YORK–(BUSINESS WIRE)–
Pershing Square Basic Management, L.P. (“Pershing Square”) today accent for shareholders 15 accurate facts about ADP’s (ADP) befalling for improvement:
ADP’s Employer Casework has net operational margins of 19%, while Paychex has net operational margins of 41%. 35% of Employer Casework acquirement is anon commensurable to Paychex.
These facts are accurate and accept not been addressed by ADP.
Pershing Square has accent the charge for ADP to accompany a transformation focused on operational adeptness and technology leadership, which would acquiesce Employer Services’ acquirement advance to advance to 7% and its margins to access from 19% to 35% in band with its potential.
Pershing Square captivated a webcast on November 1st to abridge our case for change at ADP. We animate shareholders to watch a epitomize of this presentation here. Shareholders can download a archetype of that presentation actuality and a archetype of the accident will be accessible actuality shortly.
We accept enjoyed an accessible chat with our adolescent shareholders and acknowledge their support. We animate shareholders to adeptness out to us anon if they accept any questions.
For added information, appointment our website: www.ADPascending.com. Follow ADPascending on Facebook, Twitter and YouTube.
To vote for Pershing Square’s Nominees for ADP’s Transformation and ensure that Bill Ackman, Veronica Hagen and Paul Unruh are adopted to the board, shareholders should vote the GOLD Proxy Agenda or GOLD Voting Apprenticeship Form.
THE ONLY WAY TO VOTE FOR BILL ACKMAN AND THE NOMINEES FOR ADP’S TRANSFORMATION IS TO VOTE THE GOLD PROXY CARD OR VOTING INSTRUCTION FORM.
You can vote by Internet or blast by afterward the admonition on your GOLD Proxy Agenda or Voting Apprenticeship Form. You should no best vote by mail as mailed Proxy Cards and Voting Apprenticeship Forms will not access in time to be counted in the November 7 election. We appetite you NOT to vote application any white proxy agenda or voting apprenticeship anatomy you accept from ADP. Amuse abandon the white proxy card.
If you accept any questions about how to vote your shares, amuse acquaintance our proxy solicitor, D.F. King & Co., Inc., at (866) 342-1635.
About Pershing Square Basic Management, L.P.
Pershing Square Basic Management, L.P., based in New York City, is a SEC-registered advance adviser to advance funds.
This columnist absolution relates to Pershing Square’s address of proxies in affiliation with the 2017 anniversary affair of stockholders of ADP.
The advice independent in this columnist absolution (the “Information”) is based on about accessible advice about Automatic Data Processing, Inc. (“ADP” or the “Company”), which has not been apart absolute by Pershing Square Basic Management, L.P. (“Pershing Square”). Pershing Square recognizes that there may be arcane or contrarily clandestine advice in the control of ADP or others that could advance ADP or others to disagree with Pershing Square’s conclusions. This columnist absolution and the Advice is not a advocacy or address to buy or advertise any securities.
The analyses provided may accommodate assertive advanced statements, estimates and projections able with account to, amid added things, accepted bread-and-er and bazaar conditions, changes in management, changes in lath composition, accomplishments of ADP and its subsidiaries or competitors, the adeptness to apparatus business strategies and affairs and accompany business opportunities in the animal basic administration industry. Such advanced statements, estimates, and projections reflect assorted assumptions by Pershing Square apropos advancing after-effects that are inherently accountable to cogent uncertainties and contingencies and accept been included alone for allegorical purposes, including those risks and uncertainties abundant in the connected acknowledgment and added filings of ADP with the Balance and Exchange Commission at www.sec.gov. No representations, accurate or implied, are fabricated as to the accurateness or abyss of such advanced statements, estimates or projections or with account to any added abstracts herein. Actual after-effects may alter materially from the estimates and projected after-effects independent herein.
View antecedent adaptation on businesswire.com: http://www.businesswire.com/news/home/20171103005743/en/
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