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BUSINESS BRIEFING / RETAIL

Target ponders its real estate assets

October 29, 2008|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.

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