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  "documentTitle": "Target Corporation (TGT)",
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  "authorName": "William Ackman",
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      "text": "We believe the Pros of doing this Transaction far outweigh the Cons of having a temporarily lower rating. Post-Transaction, the Company will have improved access to capital and lower capital needs. As such, credit ratings will be less material to Target Corp going forward",
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      "text": "Target Corp remains investment grade; Target Corp can pay down debt and regain an “A” category credit rating profile in two years",
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      "text": "Instantly and meaningfully accretive on all key measures (EPS, FCF/share); Improves ROIC and EPS growth at Target Corp; Reduces taxes by ~$520mm in '09E; More than triples dividends: $0.60/share today to $1.86/share in '09E; Improves capital access and decreases the need for growth capital at Target Corp; Increases the stock price from $40/share to $70/share today",
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