Target investor plans to nominate five board members

From ice-cream fights to proxy fights, the drama continues here on the Business Agenda.

The national financial press and blogosphere is spilling ink this morning about Target‘s scuffle with activist investor William Ackman, who controls about an 8 percent stake in the company.

The hedge-fund manager said today he plans to nominate five candidates, including himself, to serve on Target’s board of directors. Target directors, meanwhile, have their own candidates in mind.

Ackman and Target have publicly sparred since last year, when the investor suggested the retailer spin-off a real-estate company from which stores would lease land. Target has dismissed the idea.

Target said in a statement that it is disappointed that Ackman’s group has decided to pursue such a “costly and disruptive” contest.

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