Pershing Square Buys More Of Target

Nov 29 2007 | 8:13am ET

Pershing Square Capital Management has boosted its stake in Target Corp., founder William Ackman said yesterday.

The New York-based activist hedge fund owned a 9.6% stake in the retailing giant in July. Ackman, speaking at a New York conference, did not say how much his fund now controls.

The activist did have kind words for his target, saying he has “enormous respect” for the company’s management. Target announced it was considering a sale of its credit card portfolio after Ackman put pressure on the company to improve its stock’s discount.

Last Friday, the activist hedge fund also upped its stake in Borders Group to 17.1% from 11.7%, according to a Securities and Exchange Commission.

Ackman had reportedly been solicited by the board of the bookseller for his views of the firm’s management. In the past, Ackman has discussed the makeup of the board and corporate governance issues in general with Borders. It is not known if his latest interest in the firm is an attempt to agitate for change.

Ackman is well known in both hedge fund circles and the corporate world for shaking up management at companies such as McDonald's Corp. and Wendy's International.


In Depth

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Griffin Selling Chicago Apartment

Nov 26 2014 | 11:40am ET

Citadel Investment Group’s Kenneth Griffin is making clear to his estranged wife...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.