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  "authorName": "William Ackman",
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      "text": "Transaction would preserve Target’s flexibility in controlling its buildings/brand and allow the market to appropriately value the company’s ~200 million square feet of real estate",
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      "text": "Pershing Square proposes a spin-off of a land-only REIT to Target shareholders",
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      "text": "July 2008: Pershing Square meets with Target and Goldman Sachs to discuss real estate transaction",
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      "text": "September 2008: Board raises concerns regarding Pershing Square’s real estate proposal, primarily with respect to credit ratings impact and valuation assumptions",
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