Pershing Square Capital Management Defers Discussion on Real Estate Structuring for Target Corporation Until After the Start of 2009

Pershing Square Capital Management, L.P. announced that it will defer discussions with Target Corporation on a potential real estate transaction until after the new year. On October 29, 2008, Pershing Square outlined a potential transaction in which Target would spin-off what it termed “Target Inflation Protected Real Estate Investment Trust” or TIP REIT, a land-only and facilities services real estate investment trust that would include...