Monday, July 16, 2007

Bill Ackman: Amassing Stake in Target

Hedge fund Pershing Square Capital confirmed that it has taken a large stake in Target, and it signaled that it may make waves at the discount retailer.

Pershing, run by activist investor Bill Ackman, said in a Securities and Exchange Commission filing Monday that it has acquired about 81.8 million shares of Target, equal to a 9.6% stake.

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