Ackman buys newspaper ad space in bid to win ADP board seats – New York Post

Bill Ackman is turning to the power of the press in his latest bid to win seats on Automatic Data Processing’s board next month.

Ackman’s Pershing Square bought ads in newspapers throughout the country — including The Post — to help direct ADP investors to a Webcast it is hosting Tuesday evening. The hedge fund hopes to win shareholder votes by convincing shareholders that Ackman and two other nominees will add value to the New Jersey payroll processor.

“Retail investors own about 28 percent of ADP’s stock and have an important role to play in the upcoming election,” Ackman told The Post. “We’re reaching out to them directly so that they have an opportunity to ask questions about the substantial opportunity to make ADP more profitable and competitive.”

It is the first time the $10 billion hedge fund bought a print ad in its 13-year history, a source close to the firm told The Post.

In addition to print ads, Pershing Square also bought ads on Google, Facebook and Twitter.

The hedge fund also maintains a YouTube page, which features a 2 ¹/₂ minute animated video instructing shareholders about the voting process.

ADP’s shareholder meeting will be held Nov. 7.


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