Lon Juricic posted a blog today about Pershing Square Capital's updated filing where they disclosed an 11.3% stake (15.7 million shares) in Ceridian. Please read the post as it is very interesting and includes a copy of a letter from Pershing reflecting their concerns and their intent to nominate directors to the Issuer's board of directors.
The recent filing is an update reflecting Pershing changing its filing status from 13G (passive) to 13D (active). In December, we posted a blog titled Changes Coming at Ceridian? after we first learned of Pershing's "passive" stake in Ceridian. With their changing of filing status to Active, it will get interesting. Stay tuned. This is big news considering Ceridian is one of the largest publicly traded suppliers in the HR industry.