The battle for Target

Posted at 11:04 AM on May 28, 2009 by Bob Collins
Filed under: Economy

MPR's Marty Moylan is at the Target shareholders meeting in suburban Milwaukee this afternoon, where hedge fund boss William Ackman is trying to get four of his allies voted onto the Minneapolis-based firm's board of directors over the objection of the company.

On CNBC today, Ackman, one of the big shareholders of the firm, suggested he's not going away if he loses the proxy fight.



During the same segment, former Medtronic boss Bill George, a former Target director, disagreed with Ackman's suggestion that the board has become insular, citing the company's decision to get rid of Mervyn's and Dayton's department stores as an example of its good decision-making. George's interview may have been the most spirited defense of Target since Ackman started his fight. Update 2:08 p.m. - Ackman loses the round.

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