Cooperman Asks Why Ackman Launched ADP Proxy Fight

The transcript discusses Bill Ackman's attempt to gain board seats at ADP, critiquing his approach as aggressive and unnecessary. The speaker, a former ADP board member, highlights ADP's strong historical performance and suggests a more patient and collaborative approach. A comparison with Paychex is made, noting different business models. The speaker reflects on past investment decisions and advises Ackman to engage more constructively with ADP.

What is the main concern expressed about Bill Ackman's approach to ADP?

How did the speaker feel about the performance of ADP since it went public?

What reasons does the speaker give for suggesting a private meeting instead of a proxy fight?

What is the speaker's opinion on the current valuation of ADP's stock?

What does the speaker suggest Bill Ackman should do instead of launching a proxy fight?