By  on October 30, 2008

Activist investor William Ackman wants to separate Target Corp. from its real estate.

Ackman took his case to shareholders Wednesday and argued that the firm’s stores and the land on which they sit would be valued more by the markets if they were considered separately. The proposed spin-off, if approved by the company, would create the largest real estate investment trust in the country and the 62nd largest company in the S&P 500.

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