Target Turns Ackman’s Words Against Him

William Ackman has called Target Corp. a “phenomenally-run company.” So, the retailer asks, why is he trying to shake things up with a proxy battle?

In the latest exchange of fire between the activist hedge fund manager and Minneapolis-based Target, the latter posted an advertisement on its internal Web site with several of Ackman’s fawning quotes about the company before posing that query.