Pershing Square ups stake in Ceridian to 14.5% with options, purchases

By Lisa Kerner

Charlotte, N.C., March 1 - Ceridian Corp. investor Pershing Square Capital Management exercised call options to buy 3 million shares of the company's common stock at $24.2596 per share and Pershing Square Funds exercised options to buy 1 million shares at $24.4363 per share for a total consideration of $97,215,100 paid from Pershing Square Funds capital.

On Wednesday, the reporting persons purchased for the account of the Pershing Square Funds 808,400 shares of Ceridian common stock at a per-share price of $32.5923 for a total of $26,347,615.32, also derived from the capital of the Pershing Square Funds, according to a schedule 13D filed with the Securities and Exchange Commission.

Pershing Square Capital Management owns 20,532,734 shares, or 14.5%, of the Minneapolis information services company's outstanding stock.

Ceridian's stock (NYSE: CEN) closed at $32.61 on Feb. 28.

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