Deals
Bill Ackman Loses Another Boardroom Battle
- Management’s slate of 10 candidates re-elected at meeting
- ADP shares close up 1.3%, valuing company at $50 billion
Ackman Says He Hasn't Heard From an Angry ADP Shareholder
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Bill Ackman’s credibility has sunk to a new low.
The billionaire’s investment firm lost $4 billion on a drug company. Its stake in a burrito maker went south and Ackman was forced to shift strategy on Herbalife Ltd., which hasn’t tanked like he bet it would.