Bill Ackman wrote a long letter to Barron’s this weekend complaining about Andrew Bary’s piece on the hedge fund manager’s crusade against Target’s management.
This is how it started:
As a long-time Barron’s reader, I was disappointed to read Andrew Bary’s recent article, “Ackman’s Target Campaign is Off-Target,” which does your readers a disservice for it fails to accurately characterise what our proxy contest at Target is about, and is riddled with numerous materially false and misleading statements.
Well, Ackman got a correction:
Correction: The original article said Ackman proposed that Target place its stores into a REIT. His plan involves putting the land under Target’s stores into a REIT. He wants Target to continue to own its stores.