19-06-09 - 16:46 | ... Posted by : Faegre & Benson LLP

Faegre & Benson Counsels Target Corporation in Proxy Contest

Media Contact:
Kathleen Leach
612-766-8118
Faegre & Benson LLP

MINNEAPOLIS (June19, 2009) — Faegre & Benson LLP advised Target Corporation during its recently concluded proxy contest with Pershing Square Capital Management, in which shareholders voted to re-elect the incumbent directors of Target. Along with New York City based co-counsel Wachtell, Lipton, Rosen & Katz, Faegre & Benson assisted Target throughout the contest.

“We are delighted we had the opportunity to represent our long-time client Target Corporation and are very pleased with the results of the proxy contest,” says Philip S. Garon, partner in the Faegre & Benson corporate group.

In addition to voting in favor of the company’s four incumbent directors, Target shareholders supported the board’s proposal to set the size of the board at 12. Pershing Square failed to persuade shareholders to elect any of its five nominees to the Target board.