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Ackman Slams `Insular' ADP After Company Rejects Board Nominees
- Company to nominate all 10 existing directors for the board
- Ackman has said ADP stock could double by 2021 with changes
Bloomberg’s Scott Deveau discusses a possible battle between Bill Ackman and ADP after the company rejected the shareholder's proposed changes. He speaks with Mark Barton on 'Bloomberg Markets.' (Source: Bloomberg)
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Activist investor Bill Ackman accused Automatic Data Processing Inc. of being insular and lacking perspective after the company rejected his three nominees for the board of directors.
ADP said Monday that Ackman’s nominees for the board of directors, which included the billionaire himself, are no improvement on the current board, setting the stage for a proxy battle at the payroll and human resource outsourcing provider.