Investors Eye Target Bid
A group of investors are planning a bid to replace five members of Target Corp.'s board of directors, the Philadelphia Inquirer reported Tuesday.
According to the paper, the group includes Richard W. Vague, the former chief of First USA Bank, as well as hedge-fund manager William Ackman, former Starbucks CEO Jim McDonald and two others.
The group is said to be planning to replace the five directors who are backed by management. The company's annual meeting is scheduled for May 28.