Target ponders its real estate assets
Times Wire Reports
Target Corp. said it was studying ideas proposed by hedge-fund manager William Ackman on what to do with its real estate holdings.
Target shares jumped 18%, the most since at least 1980.
Ackman, whose New York-based Pershing Square Capital Management controls 10% of Target shares, plans to disclose his proposals publicly today. Target said it hadn’t reached a conclusion on Ackman’s ideas and expressed “serious concerns” on some issues.
