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Ackman loses ADP bid

Nov 07, 2017 - New York Business Journal

The board of directors of Automatic Data Processing Inc. will not include activist investor Bill Ackman.

Investors in the human resources company voted to re-elect the entire 10-person board, it was announced today at the company's the annual meeting. The decision crushes what had been a four-month campaign led by Ackman to implement change at ADP.

"I want to thank our shareholders for the vote of confidence they've given us," said ADP's CEO Carlos Rodriguez, during the meeting at AD...