Ceridian (CEN) and Pershing Square Reach Agreement Ending Proxy Content
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Ceridian Corporation (NYSE: CEN) and Pershing Square Capital Management, L.P. have reached an agreement resolving the proxy contest.
Pershing Square has agreed to discontinue the proxy contest with respect to the election of directors at the annual meeting, and Ceridian has agreed that immediately following the annual meeting, the size of the Ceridian board will be increased to eleven, and three of Pershing Square's current nominees -- John D. Barfitt, Robert J. Levenson and Gregory A. Pratt -- as well as Paul C. Hilal of Pershing Square, will be appointed to the board.
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