Target investor seeks real estate spin-off

10/30/2008 | Financial Times (free content)

William Ackman, who controls 10% of Target's shares through Pershing Square, has called for the retailer to spin off most of its property into a publicly traded real estate investment trust. In response, Target officials cast doubt on the basis of Ackman's valuations and raised concerns over what the move would do to the company's debt ratings, financial stability and focus.

View Full Article in:

Financial Times (free content)

Published in Brief: