COMPANIES Target, the second largest US discount retailer, is facing the prospect of a battle with activist investor Bill Ackman, who has amassed a stake in the company and could outline his plans for change as early as next week.
People familiar with the matter said Mr Ackman, who gained notoriety on Wall Street for fights against McDonald’s and Wendy’s in recent years, has recently built up holdings worth as much as $3bn in Target – or about 5 per cent.
