In a letter to shareholders, the nation's number two discount retailer Target Corp. (NYSE:TGT) urged shareholders to vote for the company's advised director nominees as activist investor Bill Ackman of Pershing Square Capital Management tries to insert his own choices. Target argued in the letter that Ackman's accusations that the company's nominees simply had insufficient experience in retail, credit cards and other business areas was unfounded and "wrong." The letter also indicated that Pershing's 7.8% stake in the company was acquired for short term gains and Ackman didn't have Target's long -term interests in mind. Ackman and the Board have been in a heated debate over the past few weeks over the open seats.

Contact Chip Brian

SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at www.TradeTheTrend.com/signup.html