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Elliott · activist-deck

BHP Billiton (BHP)

39 pages · 5 arc beats · 0 loops

Activist-Deck Download JSON
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BHP Billiton (BHP)

Elliott · 2017-04
arc beats above · slides in the middle · loops below · scroll → 0 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 2
— No image bound to this slide. Wire up imgproxy to display the rendered slide JPEG.
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Deck intelligence map

5
coverage by narrative range · generated from this deck JSON
Narrative range 42 total
Metadata
Components
Metrics
Tools
Frameworks
Beats
Loops
Situation & Context 5 slides 100% 5/5 slides 100% 5/5 slides · 21 hits
— 0/5 slides
40% 2/5 slides · 3 hits 60% 3/5 slides · 4 hits 100% 5/5 slides · 6 hits
— 0/5 slides
Problem & Complication 8 slides 100% 8/8 slides 100% 8/8 slides · 52 hits
— 0/8 slides
— 0/8 slides
75% 6/8 slides 100% 8/8 slides · 10 hits
— 0/8 slides
Solution & Approach 15 slides 100% 15/15 slides 100% 15/15 slides · 92 hits
— 0/15 slides
6.7% 1/15 slides 73.3% 11/15 slides 100% 15/15 slides · 17 hits
— 0/15 slides
Evidence & Proof 7 slides 100% 7/7 slides 100% 7/7 slides · 48 hits
— 0/7 slides
— 0/7 slides
57.1% 4/7 slides 100% 7/7 slides · 8 hits
— 0/7 slides
Impact & Next Steps 7 slides 100% 7/7 slides 100% 7/7 slides · 37 hits
— 0/7 slides
42.9% 3/7 slides · 4 hits 42.9% 3/7 slides 100% 7/7 slides
— 0/7 slides

Slide inventory

39
every slide · same image gating as the playbook
01
Slide 1
front_matter
Open slide detailBeat · Situation & Context
02
other
Open slide detailBeat · Situation & Context
03
This slide outlines a three-pillar activist proposal for BHP.summarize
Open slide detailBeat · Situation & Context
04
The slide uses a waterfall-bridge structure to show the transition from current enterprise value to total potential value.quantify_opportunity
Open slide detailBeat · Situation & Context
05
frame_problem
Open slide detailBeat · Situation & Context
06
The slide uses a 2x2 grid layout to categorize assets, with callout boxes highlighting key competitive advantages for each segment.summarize
Open slide detailBeat · Problem & Complication
07
The slide uses the South32 demerger as a precedent to advocate for the demerger of BHP's US petroleum business.cite_precedent
Open slide detailBeat · Problem & Complication
08
The slide uses a 'Comparable Portfolio' benchmark to highlight consistent underperformance across multiple timeframes.compare_peers
Open slide detailBeat · Problem & Complication
09
The slide uses four distinct time-series charts to frame the underperformance relative to specific corporate events (Rio bid, S32 demerger).compare_peers
Open slide detailBeat · Problem & Complication
10
The slide highlights a 20.4% / US$19.0bn upside potential based on the valuation gap.compare_peers
Open slide detailBeat · Problem & Complication
11
transition
Open slide detailBeat · Problem & Complication
12
The slide uses a contrast structure: identifying three specific problems followed by three corresponding solutions.propose_solution
Open slide detailBeat · Problem & Complication
13
transition
Open slide detailBeat · Solution & Approach
14
Includes a structural diagram comparing current vs. proposed state, a bar chart showing asset/profit splits, and a line chart showing historical price discountspropose_solution
Open slide detailBeat · Solution & Approach
15
The chart shows a dual-axis combination of bar (balance) and line (percentage of equity).diagnose_problem
Open slide detailBeat · Solution & Approach
16
The slide uses a structured list format to present the core thesis of the activist campaign.summarize
Open slide detailBeat · Solution & Approach
17
The slide uses a structured 'preempt_rebuttal' framework to address investor concerns regarding the BHP unification.preempt_rebuttal
Open slide detailBeat · Solution & Approach
18
The slide uses external authority to validate the activist's thesis on DLC simplification.cite_precedent
Open slide detailBeat · Solution & Approach
19
transition
Open slide detailBeat · Solution & Approach
20
diagnose_problem
Open slide detailBeat · Solution & Approach
21
The slide uses a comparison of BHP Billiton against a synthetic 'Comparable Portfolio' to challenge the diversification thesis.expose_contradiction
Open slide detailBeat · Solution & Approach
22
The slide uses a bulleted list to outline the rationale for a demerger based on lack of operational synergy and management distraction.diagnose_problem
Open slide detailBeat · Solution & Approach
23
The slide uses a bar chart to show the dispersion of broker valuations, with a clear 'Broker Average' line and standard deviation bands.quantify_opportunity
Open slide detailBeat · Solution & Approach
24
The slide uses peer benchmarking to argue for a valuation re-rating.show_valuation_bridge
Open slide detailBeat · Solution & Approach
25
The slide uses a structured argument format to justify a corporate divestiture/spinoff.propose_solution
Open slide detailBeat · Solution & Approach
26
The slide serves as a collection of external validation for the activist's thesis regarding the divestment of petroleum assets.cite_precedent
Open slide detailBeat · Solution & Approach
27
The slide argues for a re-rating of BHP based on peer valuation multiples.compare_peers
Open slide detailBeat · Evidence & Proof
28
transition
Open slide detailBeat · Evidence & Proof
29
The slide uses a dual-chart approach to show cash generation and balance sheet strength.propose_solution
Open slide detailBeat · Evidence & Proof
30
This is a continuation slide detailing the mechanics and rationale for a specific capital allocation strategy.propose_solution
Open slide detailBeat · Evidence & Proof
31
This slide presents a financial proposal from Elliott Management regarding BHP's capital allocation strategy.propose_solution
Open slide detailBeat · Evidence & Proof
32
The slide uses external analyst quotes to build credibility for the activist's argument regarding capital allocation.cite_precedent
Open slide detailBeat · Evidence & Proof
33
transition
Open slide detailBeat · Impact & Next Steps
34
Page 34 of an activist investor deck.propose_solution
Open slide detailBeat · Impact & Next Steps
35
The slide uses a waterfall-bridge structure to demonstrate value creation from DLC Unification, Demerger, Buybacks, and Franking Credits.show_valuation_bridge
Open slide detailBeat · Impact & Next Steps
36
appendix
Open slide detailBeat · Impact & Next Steps
37
Includes a diagram illustrating the flow of dividends and the blockage of franking credits.diagnose_problem
Open slide detailBeat · Impact & Next Steps
38
The slide uses a 'before-after' logic implicitly by showing the removal of the DLC and Dividend Share Mechanism.propose_solution
Open slide detailBeat · Impact & Next Steps
39
Includes detailed footnotes regarding tax assumptions and methodology.analyze_data
Open slide detailBeat · Impact & Next Steps