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Target says its nominees win by ‘comfortable margin’

The old guard at Target is claiming victory in today’s board of directors election, citing a preliminary vote count that shows incumbent candidates winning by a “comfortable margin.”

The old guard at Target is claiming victory.

The company issued a press release this afternoon claiming that, based on a preliminary vote count, shareholders have elected “by a comfortable margin” four incumbent board of director nominees.

The company’s chosen candidates were challenged by an opposing slate assembled by hedge-fund manager William Ackman, who has publicly sparred with the retailer since investing in the company two years ago.

“On behalf of Target’s board of directors and management team, we thank our shareholders for their overwhelming support throughout this process,” CEO Gregg Steinhafel said in the company’s statement.

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Target probably hasn’t seen the last of Ackman, however. MPR’s News Cut blog notes that Ackman on CNBC today suggested he won’t go away if he loses the board election.