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Target investors shoot down Ackman



When an activist investor comes to town, it appears that Target security goes on high alert.

While Target had its shareholders, including hedge fund manager William Ackman, and the media fly to one of its yet-unfinished stores outside of Milwaukee to attend their annual meeting, it greeted them with a heavy security detail.

From guards zooming around the parking lot on segway personal transporters to chase down wayward  parkers, to Target employees scanning shareholders with handheld metal dectors when they entered its stores, Target made it very clear it was in no mood for fun and games at its annual meeting.  

But the heavy handed approach did not seem to be needed.

Target shareholders ended up handing a loss to Ackman, who was seeking five spots on the retailer’s board in a closely watched proxy battle with the large U.S. retailer.