Pershing Square Capital Management Invites Ceridian Corporation Stockholders to Conference Call Tuesday, September 4, 2007
August 28 2007 - 11:33AM
PR Newswire (US)
NEW YORK, Aug. 28 /PRNewswire/ -- Pershing Square Capital
Management, L.P. announced today that it will host a conference
call for all stockholders of Ceridian Corporation (NYSE:CEN), on
Tuesday, September 4, 2007 at 4:15 p.m. (Eastern). On that call
Pershing Square expects to discuss it's nominees and the on-going
election contest for Ceridian's board of directors. Pershing Square
also reaffirmed its full support for the proposed buyout offer of
Ceridian by affiliates of Thomas H. Lee Partners, L.P. and Fidelity
National Financial, Inc. (NYSE:FNF). With the broad support of
stockholders, including Pershing Square, the deal is scheduled for
a stockholder vote on Tuesday, September 12, 2007, at Ceridian's
upcoming Annual Meeting. Pershing Square looks forward to timely
closure of this deal. If elected, the Pershing Square nominees have
committed to close the transaction as soon as practicable, and to
that end have no plans to change either the company's management or
advisory team. Recognizing the risk current credit market
uncertainty poses to this deal, the Pershing Square nominees are
committed to maximizing stockholder value in case the transaction
fails to close. Call-in information for the Tuesday, September 4,
2007 call at 4:15 p.m. (Eastern) is as follows: WHEN: Tuesday,
September 4, 2007, at 4:15 p.m. ET DIAL-IN NUMBER: (800) 498-2152
(within the US and Canada) / (706) 645-9218 (International). No
passcode or conference ID# is required. The call will be followed
by a Q&A session. It is not expected that the call or the
Q&A session will be available for playback or replay. ABOUT
PERSHING SQUARE Pershing Square Capital Management, L.P. is an
investment advisor to private investment funds with approximately
$6 billion in capital under management. ADDITIONAL INFORMATION AND
WHERE TO FIND IT In connection with Ceridian's 2007 annual meeting
of stockholders, Pershing Square has filed a proxy statement, Green
Proxy Card and other materials with the SEC. WE URGE INVESTORS TO
READ THE PROXY STATEMENT AND THESE OTHER MATERIALS CAREFULLY
BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT CERIDIAN AND THE
MATTERS TO BE CONSIDERED AT THE ANNUAL MEETING. Investors may
contact D.F. King & Co., Inc., Pershing Square's proxy
solicitor for the 2007 annual meeting, at (800) 431-9642. Investors
may also obtain a free copy of the proxy statement and other
relevant documents as well as other materials filed by Pershing
Square with the SEC concerning Ceridian at the SEC's website at
http://www.sec.gov/. PARTICIPANTS IN THE SOLICITATION Pershing
Square, L.P., Pershing Square II, L.P. and Pershing Square
International, Ltd., along with William A. Ackman, Scott D.
Ferguson, Paul C. Hilal and Roy J. Katzovicz, as employees of
Pershing Square, and William A. Ackman, Michael L. Ashner, John D.
Barfitt, Harald Einsmann, Robert J. Levenson, Gregory A. Pratt and
Alan Schwartz, as director nominees of Pershing Square, and Michael
E. Porter may be deemed, under SEC rules, to be participants in the
solicitation of proxies from Ceridian's stockholders with respect
to the matters to be considered at Ceridian's 2007 annual meeting
of stockholders. Information regarding these potential participants
in the solicitation is included in Pershing Square's definitive
proxy statement filed with the SEC on August 22, 2007.
FORWARD-LOOKING STATEMENTS This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The statements regarding
Ceridian or Pershing Square contained in this release that are not
historical in nature, particularly those that utilize terminology
such as "may," "will," "should," "likely," "expects,"
"anticipates," "estimates," "believes" or "plans," or comparable
terminology, are forward-looking statements based on current
expectations and assumptions, and entail various risks and
uncertainties that could cause actual results to differ materially
from those expressed in such forward-looking statements.
DATASOURCE: Pershing Square Capital Management, L.P. CONTACT: Roy
J. Katzovicz of Pershing Square Capital Management, L.P.,
+1-212-813-3700
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