GNU Make 4.0.1 - infinite loop on startup

[Yuriy Chernyshov]

Greetings.

On October, 9 GNU Make 4.0 was released and is already available on cygwin
(I'm using x86_64 on Win7).

My makefile is working fine with the latest version from 3.0 branch
(3.82.xx), but comes into infinite loop on startup (no rules are being
executed) with 4.0.1. 100% of a single cpu core is concumed, memory
usage grows quite fast.

Makefile can be found on github page:
https://github.com/georgthegreat/dancebooks-bibtex/blob/dev/makefile

I looked through the 4.0-changelog, but there is nothing to cause such
behavior.

What can the problem lay in?

With best regards,
Yuriy.