Faegre & Benson has landed the lucrative role advising opposite New York powerhouse Skadden Arps Slate Meagher & Flom on a $3.24bn (£1.76bn) retail merger.

Minneapolis-based Faegre won the mandate, one of the most lucrative in its history, for advising long-term client Target through corporate partners Philip Garon and Michael Stanchfield.