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The hedge fund, controlled by billionaire investor Ackman, has
also urged the company to replace its Chief Executive Carlos
Rodriguez.
Shares of ADP were up 2.7 percent at $114.80 in premarket
trading.
One of Ackman's signature moves has been to suggest — either
gently or forcefully — that management needs to be overhauled at
his target companies.
He has often helped engineer successful management shake-ups,
including at Air Products and Chemicals Inc <APD.N> and Canadian
Pacific Railway Ltd <CP.TO>.
"Ackman requested that ADP extend the Aug. 10 deadline for
nomination of directors by 30 to 45 days and said he planned to
nominate five directors, including himself, to ADP's 10-member
board," the company said.
Pershing Square owns 8 percent of ADP, which has a total market
valuation of about $50 billion.
ADP said its board has determined that it was not in the best
interests of the company or its other shareholders to accede to
Pershing Square's request for an extension.
"ADP has a clearly defined board nomination process, and the
2017 deadline for director nominations has been public for
nearly a year," the company said.
Reuters reported last week that Ackman, one of the hedge fund
industry's most prominent activist investors, was buying a large
stake in ADP.
(Reporting by Supantha Mukherjee and Laharee Chatterjee in
Bengaluru; Editing by Shounak Dasgupta)
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