Pershing discussing Target's business with company, advisers

By Lisa Kerner

Charlotte, N.C., Dec. 24 - Target Corp. investors led by Pershing Square Capital Management, LP "have met and may in the future meet with management" of the company.

The investors have also engaged advisers and may contact other shareholders to discuss Target's operations.

Pershing may discuss the strategy, business, assets, operations, capital structure and financial condition of Target, according to a schedule 13D filing with the Securities and Exchange Commission.

The reporting persons beneficially own a total of some 82.79 million shares, or 9.97% of Target's stock, with total economic exposure on more than 104 million shares, or 12.6% of the company's stock, the filing stated.

Target is a Minneapolis-based retailer.

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