Advisory Firms Split On Target, Ackman Proposals

EMILY FREDRIX

MILWAUKEE (AP) — Two shareholder advisory groups were split Friday on proposals Target Corp. shareholders are about to vote on, with one saying hedge fund leader William Ackman's moves favor risk-taking over long-term performance.

The fight between Ackman, who runs hedge fund Pershing Square Capital Management, and the Minneapolis-based retailer has been intensifying as the company's shareholder meeting nears. It is to take place May 28 outside Milwaukee.

Proxy Governance Inc. issued a report late Thursday saying shareholders should elect two of Ackman's five nominees for Target's board for their experience in retail and real estate. ...