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Hedge fund, Target take off gloves in proxy fight

Reuters – The battle for board seats at Target Corp heated up on Tuesday when Pershing Square Capital Management called the current directors "suboptimal" after the retailer said the hedge fund has a "risky agenda.

The New York-based hedge fund, which owns about 7.8 percent of Target’s shares, and the Minneapolis-based retailer fired off a string of regulatory filings on Tuesday as the battle for votes intensified before the May 28 annual meeting.

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