Pershing Square to host live webcast for ADP shareholders on October 10
Pershing Square Capital Management announced that it will host a live webcast for all ADP shareholders on Tuesday, October 10, at 7:00 PM EDT at www.ADPascending.com. Pershing Square previously hosted an in-depth webcast on August 17, 2017 primarily for institutional investors who were interested in understanding the detailed research and analysis that Pershing Square conducted prior to investing in ADP. The October 10th webcast will be held in the evening to give all shareholders - particularly retail shareholders and other individual investors - a chance to understand the significant opportunity for improvement at ADP. "We're always delighted to have in-depth discussions with interested ADP shareholders," said Pershing Square CEO Bill Ackman. "The investment case is simple: ADP has a significant opportunity for margin expansion and accelerated earnings growth. We know the opportunity exists because ADP's competitors have significantly higher margins than ADP, and two businesses previously owned by ADP achieved very substantial margin expansion once they were freed from ADP's ownership and control. ADP deserves better than today's status quo."