{
  "schemaVersion": "deck-intelligence.v1",
  "id": "019de06f-3b38-752a-9438-bd762337d787",
  "slug": "31f0a32297cf3afe8f7847a54117f74b",
  "title": "Evercore | Investment Banking Pitch Book | 12 slides",
  "subtitle": "Evercore · 2011-08",
  "author": "Evercore",
  "date": "2011-08-01 00:00:00",
  "pageCount": 12,
  "kind": "consulting-deck",
  "orientation": "landscape",
  "aspectRatio": 1.3351878,
  "document": {
    "id": "019de06f-3b38-752a-9438-bd762337d787",
    "slug": "31f0a32297cf3afe8f7847a54117f74b",
    "title": "Evercore | Investment Banking Pitch Book | 12 slides",
    "rawTitle": "Evercore | Investment Banking Pitch Book | 12 slides",
    "authorId": "evercore",
    "authorName": "Evercore",
    "authorDisplay": "Evercore",
    "kind": {
      "slug": "consulting-deck",
      "label": "Consulting deck"
    },
    "sourceType": {
      "slug": "investment_bank",
      "label": "Investment bank"
    },
    "fileName": "2011-08__evercore__ib-pitchbook__31f0a322.pdf",
    "sourceUrl": "https://www.slidebook.io/company/evercore/presentation/31f0a32297cf3afe8f7847a54117f74b/",
    "sourceDate": "2011-08-17 00:00:00",
    "presentationDate": "2011-08-01 00:00:00",
    "ingestedAt": "2026-04-30 22:07:59.39284+00",
    "status": "ready",
    "pageCount": 12,
    "orientation": "landscape",
    "aspectRatio": 1.3351878,
    "targetCompany": null,
    "targetTicker": null,
    "metadata": {
      "corpus": "slidebook",
      "industry": "capital-markets",
      "local_root": "/Users/miguelsuredasuau/Desktop/lalalalla/_scrape/slidebook/decks/2011-08__evercore__ib-pitchbook__31f0a322",
      "image_width": 1920,
      "image_format": "jpg",
      "deck_type_raw": "Investment Banking Pitch Book",
      "deck_type_slug": null,
      "source_url_pattern": "https://www.slidebook.io/company/{company_slug}/presentation/{deck_id}/"
    }
  },
  "coverage": {
    "pageCount": 12,
    "pagesIndexed": 12,
    "pagesWithImages": 12,
    "pagesWithMetadata": 12,
    "imageCoveragePct": 100,
    "metadataCoveragePct": 100,
    "componentCount": 50,
    "chartCount": 1,
    "metricSlides": 0,
    "toolMatches": 9,
    "documentToolMatches": 0,
    "frameworkMatches": 0,
    "arcMatches": 1,
    "beatMatches": 4,
    "loopMatches": 2,
    "patternMatches": 0,
    "storymakersMatch": false,
    "scoreAvailable": true,
    "reviewAvailable": true,
    "activistThesisAvailable": false,
    "pitchdeckMetadataAvailable": false,
    "pitchdeckProfileAvailable": false
  },
  "blocks": [],
  "matches": {
    "arcs": [
      {
        "arc": {
          "name": "The Consultant's Gambit",
          "slug": "consultants-gambit",
          "status": "active",
          "bestFor": "Business cases, project proposals, strategic recommendations",
          "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
          "version": 1,
          "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
          "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
          "description": null,
          "familyLabel": null,
          "categoryName": "Strategy & Business",
          "categorySlug": "strategy-business"
        },
        "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
        "evidence": "Structured analysis and evidence-based approach",
        "isPrimary": true,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-16 22:04:53.558607+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": "doc-narrative-v1"
        }
      }
    ],
    "beats": [
      {
        "to": 4,
        "arc": {
          "name": "The Consultant's Gambit",
          "slug": "consultants-gambit",
          "status": "active",
          "bestFor": "Business cases, project proposals, strategic recommendations",
          "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
          "version": 1,
          "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
          "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
          "description": null,
          "familyLabel": null,
          "categoryName": "Strategy & Business",
          "categorySlug": "strategy-business"
        },
        "from": 3,
        "name": "Situation & Context",
        "beatId": "22f60c4e-5b9a-4b97-8d0f-15befe563e83",
        "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
        "beatType": {
          "name": "Situation & Context",
          "slug": "consultants-gambit-situation-context",
          "status": "active",
          "canonId": "019dd9b8-05ae-741b-992d-65ee83c639b3",
          "version": 1,
          "description": null
        },
        "evidence": "Illustrative Transaction Assumptions and Cost Synergy Potential",
        "position": 0,
        "isPrimaryArc": true,
        "parentBeatType": {
          "name": "Setup",
          "slug": "setup",
          "status": "active",
          "canonId": "019dd9b8-020e-7505-af9b-d9b9a4679bcc",
          "version": 1,
          "description": "Where the deck grounds the reader before doing anything else. Almost every arc opens here."
        },
        "alignedBlockIds": null,
        "matchConfidence": 0.8
      },
      {
        "to": 6,
        "arc": {
          "name": "The Consultant's Gambit",
          "slug": "consultants-gambit",
          "status": "active",
          "bestFor": "Business cases, project proposals, strategic recommendations",
          "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
          "version": 1,
          "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
          "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
          "description": null,
          "familyLabel": null,
          "categoryName": "Strategy & Business",
          "categorySlug": "strategy-business"
        },
        "from": 5,
        "name": "Problem & Complication",
        "beatId": "b5b8909e-bcf1-457f-b0e1-bf246e3b154c",
        "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
        "beatType": {
          "name": "Problem & Complication",
          "slug": "consultants-gambit-problem-complication",
          "status": "active",
          "canonId": "019dd9b8-064a-777f-a374-e9a8c43dedd4",
          "version": 1,
          "description": null
        },
        "evidence": "Illustrative Cash EPS Accretion/Dilution to Deluxe – Synergies Ramp-Up",
        "position": 1,
        "isPrimaryArc": true,
        "parentBeatType": {
          "name": "Complication",
          "slug": "complication",
          "status": "active",
          "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579",
          "version": 1,
          "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs."
        },
        "alignedBlockIds": null,
        "matchConfidence": 0.8
      },
      {
        "to": 8,
        "arc": {
          "name": "The Consultant's Gambit",
          "slug": "consultants-gambit",
          "status": "active",
          "bestFor": "Business cases, project proposals, strategic recommendations",
          "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
          "version": 1,
          "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
          "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
          "description": null,
          "familyLabel": null,
          "categoryName": "Strategy & Business",
          "categorySlug": "strategy-business"
        },
        "from": 7,
        "name": "Evidence & Proof",
        "beatId": "a8f88a82-abf8-4d8c-87d2-83598eb74a27",
        "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
        "beatType": {
          "name": "Evidence & Proof",
          "slug": "consultants-gambit-evidence-proof",
          "status": "active",
          "canonId": "019dd9b8-07b1-7688-8e1e-7637fec3802a",
          "version": 1,
          "description": null
        },
        "evidence": "Illustrative Value Creation to MFW Shareholders",
        "position": 2,
        "isPrimaryArc": true,
        "parentBeatType": {
          "name": "Evidence",
          "slug": "evidence",
          "status": "active",
          "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a",
          "version": 1,
          "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development."
        },
        "alignedBlockIds": null,
        "matchConfidence": 0.8
      },
      {
        "to": 12,
        "arc": {
          "name": "The Consultant's Gambit",
          "slug": "consultants-gambit",
          "status": "active",
          "bestFor": "Business cases, project proposals, strategic recommendations",
          "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
          "version": 1,
          "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
          "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
          "description": null,
          "familyLabel": null,
          "categoryName": "Strategy & Business",
          "categorySlug": "strategy-business"
        },
        "from": 9,
        "name": "Impact & Next Steps",
        "beatId": "f7a69823-b203-428b-85be-36a3aa233d10",
        "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
        "beatType": {
          "name": "Impact & Next Steps",
          "slug": "consultants-gambit-impact-next-steps",
          "status": "active",
          "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655",
          "version": 1,
          "description": null
        },
        "evidence": "Appendix and supporting data",
        "position": 3,
        "isPrimaryArc": true,
        "parentBeatType": {
          "name": "Resolution",
          "slug": "resolution",
          "status": "active",
          "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b",
          "version": 1,
          "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution."
        },
        "alignedBlockIds": null,
        "matchConfidence": 0.8
      }
    ],
    "loops": [
      {
        "to": 6,
        "from": 3,
        "loop": {
          "name": "40_mece_breakdown",
          "slug": "40-mece-breakdown",
          "status": "active",
          "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
          "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184",
          "version": 1,
          "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
          "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
          "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories",
          "familyLabel": null,
          "categoryName": "Consulting Framework",
          "categorySlug": "consulting-framework"
        },
        "matchId": "1ab1485c-2b09-4f12-b141-b62f7a8c7490",
        "evidence": "Structured analysis and evidence-based approach",
        "position": 0,
        "objective": "Break down the financial analysis and synergy potential",
        "confidence": 0.7,
        "extraction": {
          "at": "2026-07-16 22:04:53.725879+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": "doc-narrative-v1"
        }
      },
      {
        "to": 10,
        "from": 7,
        "loop": {
          "name": "27_cost_of_inaction",
          "slug": "27-cost-of-inaction",
          "status": "active",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "canonId": "019dd956-70d1-7395-a15b-857ba858b394",
          "version": 1,
          "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "description": "Quantify what happens if the audience does nothing",
          "familyLabel": null,
          "categoryName": "Urgency",
          "categorySlug": "urgency"
        },
        "matchId": "f9adeb25-5523-4583-98d8-f9268ffa5589",
        "evidence": "Illustrative Value Creation to MFW Shareholders",
        "position": 1,
        "objective": "Highlight the cost of inaction and value creation potential",
        "confidence": 0.6,
        "extraction": {
          "at": "2026-07-16 22:04:53.757016+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": "doc-narrative-v1"
        }
      }
    ],
    "tools": [
      {
        "tool": {
          "name": "Slide recipe: Cover",
          "slug": "cover-slide",
          "status": "active",
          "bestFor": null,
          "canonId": "019df269-2a08-767d-9128-e7431e6fe8a3",
          "version": 1,
          "bodyDocId": "019df269-29e5-7738-b5fa-6892e5dc8e65",
          "description": "The first ten seconds. Build it deliberately.",
          "familyLabel": "slide-recipe",
          "categoryName": "Slide",
          "categorySlug": "slide"
        },
        "agent": "designer",
        "layer": "slide",
        "agents": [
          "designer"
        ],
        "matchId": "0e7d702a-2845-4c0a-98ca-416494d3a767",
        "evidence": "PRELIMINARY DRAFT – SUBJECT TO CHANGE",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.9,
        "extraction": {
          "at": "2026-07-17 03:29:53.778974+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 1,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": null,
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Scenario Analysis",
          "slug": "scenario-analysis",
          "status": "active",
          "bestFor": null,
          "canonId": "ca76b81a-ec1d-403f-b1e6-8d6eec3bf93e",
          "version": 1,
          "bodyDocId": null,
          "description": null,
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "f2f1a000-d3f1-4630-9ebf-630a983182ae",
        "evidence": "list/bullet: Assumes Harland Clarke (\"HC\") payments business is sold to Deluxe for 100% cash consideration",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-17 03:29:53.847024+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 3,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": null,
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Scenario Analysis",
          "slug": "scenario-analysis",
          "status": "active",
          "bestFor": null,
          "canonId": "ca76b81a-ec1d-403f-b1e6-8d6eec3bf93e",
          "version": 1,
          "bodyDocId": null,
          "description": null,
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "5dbc9574-74dc-46c5-9bad-e2f4745125af",
        "evidence": "This slide presents scenario analysis for Illustrative Cash EPS Accretion/Dilution to Deluxe – Synergies Ramp-Up.",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.9,
        "extraction": {
          "at": "2026-07-16 23:20:09.072371+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 5,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": null,
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Table data",
          "slug": "table-data",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
          "version": 1,
          "bodyDocId": null,
          "description": "Tabular layouts of structured data.",
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "4a70a59d-adf0-4633-af05-c98af1f1899e",
        "evidence": "The slide contains tables with scenario data for accretion/dilution and leverage.",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-16 23:20:09.110982+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 5,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": "common",
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Table data",
          "slug": "table-data",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
          "version": 1,
          "bodyDocId": null,
          "description": "Tabular layouts of structured data.",
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "601ea937-4f1e-4193-b22c-aaa776e5a834",
        "evidence": "The slide contains tables with data on value per share, net cash proceeds, and pro forma capital structure.",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-16 23:20:09.186477+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 6,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": "common",
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Table data",
          "slug": "table-data",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
          "version": 1,
          "bodyDocId": null,
          "description": "Tabular layouts of structured data.",
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "9aac52fc-1fd7-4e64-9520-4bbc756a61dc",
        "evidence": "The slide contains tables showing the percentage of synergy benefits retained under different scenarios.",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-16 23:20:09.267698+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 7,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": "common",
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Table data",
          "slug": "table-data",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
          "version": 1,
          "bodyDocId": null,
          "description": "Tabular layouts of structured data.",
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "d67f3131-a9c7-4fa8-a608-8fc1eaf69ebf",
        "evidence": "The slide contains sensitivity tables for cash EPS and pro forma leverage.",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-16 23:20:09.384751+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 9,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": "common",
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Table data",
          "slug": "table-data",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
          "version": 1,
          "bodyDocId": null,
          "description": "Tabular layouts of structured data.",
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "0a547f26-fa74-4020-9c5a-fa6ce684a4be",
        "evidence": "The slide contains a valuation table with various metrics.",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-16 23:20:09.497783+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 11,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": "common",
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Table data",
          "slug": "table-data",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
          "version": 1,
          "bodyDocId": null,
          "description": "Tabular layouts of structured data.",
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "457258c1-93e4-4964-8404-972c18e65ded",
        "evidence": "The slide contains a table with operating metrics for Montana and peer companies.",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-16 23:20:09.574094+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 12,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": "common",
        "narrativePurpose": null
      }
    ],
    "frameworks": [],
    "patterns": []
  },
  "storymakers": null,
  "score": {
    "backend": "codex",
    "scoredAt": "2026-05-02 19:01:49.114+00",
    "subScores": {
      "scqa_arc": 38,
      "action_titles": 20,
      "mece_structure": 60,
      "closing_strength": 12,
      "evidence_quality": 84,
      "clarity_of_thesis": 35,
      "production_quality": 68,
      "visual_storytelling": 68
    },
    "totalScore": 48,
    "coveragePct": 100,
    "explanations": {
      "scqa_arc": "The deck moves from legal front matter into financial models on slides 3-7 rather than building a clear Situation-Complication-Question-Answer arc.",
      "action_titles": "Most titles are topic labels rather than insight sentences, for example slide 5: \"Illustrative Cash EPS Accretion/Dilution to Deluxe - Synergies Ramp-Up.\"",
      "mece_structure": "The main body covers assumptions, synergies, accretion, value creation, and synergy sharing on slides 3-7, but synergy topics overlap and gaps remain around strategic rationale, risks, process, and recommendation.",
      "closing_strength": "Slide 12 ends with an appendix operating-metrics table, so the deck lacks a closing recommendation, decision request, or next steps.",
      "evidence_quality": "Claims are strongly supported by quantitative tables, precedent transaction benchmarks, accretion/dilution analysis, valuation comps, and operating metrics across slides 4-12.",
      "clarity_of_thesis": "The first five slides establish a transaction-economics topic through assumptions and sensitivities on slides 3-5, but they do not state a declarative central thesis.",
      "production_quality": "The book appears consistently formatted as a banking deck, but overcrowded slides 3 and 6, low action-title density, and limited callout discipline weaken production polish.",
      "visual_storytelling": "Sensitivity tables, precedent benchmarks, and peer charts are appropriate for banking analysis on slides 4-12, but dense and overcrowded pages limit takeaway-led storytelling."
    },
    "slidesAnalyzed": 12
  },
  "review": {
    "backend": "claude",
    "verdict": "A textbook 2011-vintage Evercore tactical pitch book — analytically rigorous on synergy and accretion math but a weak Storymakers exemplar: no thesis, no action titles, no recommendation close.",
    "reviewedAt": "2026-05-02 21:58:37.214+00",
    "slidesSeen": 12,
    "suggestions": [
      "Insert a one-page executive summary after S2 stating the recommended bid range, financing mix, and expected accretion in a single sentence.",
      "Rewrite every 'Illustrative X' title into a declarative sentence carrying the number — e.g. S4 → 'Precedent printing-deal synergies of 8–12% of target costs imply $X–Y for HC.'",
      "Add a closing recommendation slide before the Appendix divider with the preferred scenario, key risks, and a 30/60/90-day next-steps box.",
      "Group S3–S7 under 1–2 named pillar dividers (e.g. 'Deal Economics' and 'Shareholder Value') so the structure reads MECE rather than as a linear math chain.",
      "Lift the S10 callout pattern (annotated peer chart) into the main body — market context belongs before the sensitivity tables, not in the appendix."
    ],
    "closingScore": 28,
    "openingScore": 22,
    "topStrengths": [
      "Sensitivity grids on S5 and S9 are properly framed across two financing scenarios (100% debt vs. debt + PIPE), giving a banker the full decision surface.",
      "S10 anchors valuation in market reality with a 2-year peer trading-multiple chart and an annotated callout for the 6/13/11 MacAndrews & Forbes offer."
    ],
    "topWeaknesses": [
      "No executive summary or thesis slide — the recommended price/structure is never stated up front, forcing the reader to derive it from S5–S7.",
      "Every body title begins with 'Illustrative' (S3, S4, S5, S6, S7, S9) — pure topic labels with zero action-title insight.",
      "Deck ends on a sensitivity table (S7) with no 'what we recommend / next steps' close before the appendix divider."
    ],
    "narrativeScore": 32,
    "pillarCritique": "There is exactly one divider ('Appendix' at S8) and no MECE pillar structure for the body. S3–S7 read as a linear math chain (assumptions → synergies → accretion → value → sharing) rather than distinct, mutually exclusive pillars of the argument.",
    "closingCritique": "Excluding the appendix (S8–S12), the deck ends on S7 'Illustrative Sharing of Synergies' — a sensitivity grid, not a recommendation. No 'next steps,' no preferred scenario called out, no memorable close; it simply trails off into the appendix divider.",
    "openingCritique": "Slides 1–5 are cover, legal disclaimer, assumptions, synergy ranges, and an EPS sensitivity table. The thesis is never stated — a reader hits page 5 still unsure whether Evercore is recommending the deal, the price, or the financing structure.",
    "extractionSeconds": 76.819,
    "narrativeCritique": "There is no story arc — the deck jumps from disclaimer (S2) straight into transaction assumptions (S3) and a chain of sensitivity tables (S4–S7), with no Situation/Complication setup, no executive answer, and no Resolution. Classic IB analytical dump: tension and recommendation acts are missing entirely.",
    "titleQualityScore": 20,
    "titleQualityCritique": "Almost every title is a topic label prefixed with 'Illustrative…' — e.g. S4 'Illustrative Cost Synergy Potential' and S7 'Illustrative Sharing of Synergies' name the exhibit but withhold the insight. A Storymakers rewrite would surface the number: e.g. 'Cost synergies of $X–Y deliver Z% accretion at 4.5x EBITDA.'"
  },
  "activistThesis": null,
  "pitchdeck": {
    "metadata": null,
    "profile": null
  },
  "slides": [
    {
      "page": 1,
      "type": "setup",
      "function": "front_matter",
      "imagePath": "https://imgproxy.kitesheet.com/DiAESNch1vhO5pyW_ovVjMFKqErOaqmPH5Zcwo_W5TU/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8zMWYwYTMyMjk3Y2YzYWZlOGY3ODQ3YTU0MTE3Zjc0Yi9wMDAxLmpwZw",
      "rawType": "cover",
      "block": null,
      "metadata": {
        "slideType": "cover",
        "slideTypeCanon": {
          "name": "Cover",
          "slug": "cover",
          "status": "active",
          "canonId": "019de52d-05f2-729d-9f93-e0504f0a2410",
          "version": 1,
          "description": null
        },
        "function": "front_matter",
        "functionCanon": {
          "name": "Front matter",
          "slug": "front_matter",
          "status": "active",
          "canonId": "019de52d-133d-73f0-9e26-201eda96b098",
          "version": 1,
          "description": null
        },
        "density": "sparse",
        "densityScore": 20,
        "componentCount": 5,
        "textChars": 137,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 14:28:59.079+00",
          "seconds": 2.47,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de06f-3b38-752a-9438-bd762337d787/1",
        "deck": "/decks/019de06f-3b38-752a-9438-bd762337d787",
        "deckAnchor": "/decks/019de06f-3b38-752a-9438-bd762337d787#slide-1",
        "deckJson": "/decks/019de06f-3b38-752a-9438-bd762337d787.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.03,
            "w": 0.52,
            "x": 0.24,
            "y": 0.17
          },
          "kind": "disclaimer",
          "text": "PRELIMINARY DRAFT – SUBJECT TO CHANGE",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Disclaimer",
              "slug": "disclaimer",
              "status": "active",
              "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc",
              "version": 1,
              "description": "Legal/cautionary text that occupies most of the body of its slide."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.079+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "17f3e266-df03-4f4a-b4d3-800af1db99ac",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.18,
            "x": 0.74,
            "y": 0.09
          },
          "kind": "disclaimer",
          "text": "Preliminary Draft - Confidential",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Disclaimer",
              "slug": "disclaimer",
              "status": "active",
              "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc",
              "version": 1,
              "description": "Legal/cautionary text that occupies most of the body of its slide."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.079+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "1db371a1-2adc-4bd3-ae1d-1bd732e7afe6",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.2,
            "x": 0.08,
            "y": 0.51
          },
          "kind": "paragraph",
          "text": "Discussion Materials\nAugust 17, 2011",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.079+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c59ae467-b529-432b-ad67-1ce17c3b903f",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.2,
            "x": 0.08,
            "y": 0.88
          },
          "kind": "paragraph",
          "text": "EVERCORE PARTNERS",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.079+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d8bb27d8-337d-46c1-b368-2738056bf5d6",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.38,
            "x": 0.08,
            "y": 0.43
          },
          "kind": "title",
          "text": "PROJECT MONTANA",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.079+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "26229cff-ac21-4ea1-985f-1f92bdc565c7",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Slide recipe: Cover",
            "slug": "cover-slide",
            "status": "active",
            "bestFor": null,
            "canonId": "019df269-2a08-767d-9128-e7431e6fe8a3",
            "version": 1,
            "bodyDocId": "019df269-29e5-7738-b5fa-6892e5dc8e65",
            "description": "The first ten seconds. Build it deliberately.",
            "familyLabel": "slide-recipe",
            "categoryName": "Slide",
            "categorySlug": "slide"
          },
          "agent": "designer",
          "layer": "slide",
          "agents": [
            "designer"
          ],
          "matchId": "0e7d702a-2845-4c0a-98ca-416494d3a767",
          "evidence": "PRELIMINARY DRAFT – SUBJECT TO CHANGE",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.9,
          "extraction": {
            "at": "2026-07-17 03:29:53.778974+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 1,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": null,
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "thumbSrc": "https://imgproxy.kitesheet.com/YKhMRTTELWWtcTGRrKC4Oy179IOb1xMYgvLz7Kic75w/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8zMWYwYTMyMjk3Y2YzYWZlOGY3ODQ3YTU0MTE3Zjc0Yi9wMDAxLmpwZw",
      "imagePathAlt": "https://imgproxy.kitesheet.com/EvdwQTHhrnqC5MCipQ3RaY7JLbG3q_UhHWUSX3FZSZ4/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8zMWYwYTMyMjk3Y2YzYWZlOGY3ODQ3YTU0MTE3Zjc0Yi9wMDAxLnBuZw",
      "thumbSrcAlt": "https://imgproxy.kitesheet.com/DC1K9utGGSp2gDUWzsp_8FjffMQ4uDLJQu04X_DbbRQ/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8zMWYwYTMyMjk3Y2YzYWZlOGY3ODQ3YTU0MTE3Zjc0Yi9wMDAxLnBuZw"
    },
    {
      "page": 2,
      "type": "setup",
      "function": "other",
      "rawType": "disclaimer",
      "block": null,
      "metadata": {
        "slideType": "disclaimer",
        "slideTypeCanon": {
          "name": "Disclaimer",
          "slug": "disclaimer",
          "status": "active",
          "canonId": "019de52d-0801-727b-b98a-5ed095aeee78",
          "version": 1,
          "description": null
        },
        "function": "other",
        "functionCanon": {
          "name": "Other (fallback)",
          "slug": "other",
          "status": "active",
          "canonId": "019de52d-15e1-75bc-99dc-07732380e2ce",
          "version": 1,
          "description": null
        },
        "density": "sparse",
        "densityScore": 12,
        "componentCount": 3,
        "textChars": 195,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 14:28:59.839+00",
          "seconds": 3.202,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de06f-3b38-752a-9438-bd762337d787/2",
        "deck": "/decks/019de06f-3b38-752a-9438-bd762337d787",
        "deckAnchor": "/decks/019de06f-3b38-752a-9438-bd762337d787#slide-2",
        "deckJson": "/decks/019de06f-3b38-752a-9438-bd762337d787.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.02,
            "w": 0.15,
            "x": 0.74,
            "y": 0.09
          },
          "kind": "disclaimer",
          "text": "Preliminary Draft - Confidential",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Disclaimer",
              "slug": "disclaimer",
              "status": "active",
              "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc",
              "version": 1,
              "description": "Legal/cautionary text that occupies most of the body of its slide."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.839+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f94b5404-fda6-4109-a2ef-e55d7f617b37",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.65,
            "w": 0.84,
            "x": 0.08,
            "y": 0.15
          },
          "kind": "disclaimer",
          "text": "These materials have been prepared by Evercore Group L.L.C. (\"Evercore\") for the Special Committee of the Board of Directors of M & F Worldwide...",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Disclaimer",
              "slug": "disclaimer",
              "status": "active",
              "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc",
              "version": 1,
              "description": "Legal/cautionary text that occupies most of the body of its slide."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.839+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "fdfc9273-4f70-4fc5-8d3d-3e1df43fd5ee",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.19,
            "x": 0.08,
            "y": 0.88
          },
          "kind": "paragraph",
          "text": "EVERCORE PARTNERS",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.839+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d233b77d-1504-4a0b-947b-1d14b45f2260",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 3,
      "type": "setup",
      "title": "Evercore Partners slide, likely part of a M&A advisory deck.",
      "function": "compare_options",
      "rawType": "scenario_analysis",
      "block": null,
      "metadata": {
        "slideType": "scenario_analysis",
        "slideTypeCanon": {
          "name": "Scenario analysis",
          "slug": "scenario_analysis",
          "status": "active",
          "canonId": "019de52d-0d4d-7022-a603-242c1dd0d760",
          "version": 1,
          "description": null
        },
        "function": "compare_options",
        "functionCanon": {
          "name": "Compare options",
          "slug": "compare_options",
          "status": "active",
          "canonId": "019de52d-167f-7038-aebc-70a9d2e0e33b",
          "version": 1,
          "description": null
        },
        "density": "dense",
        "densityScore": 63,
        "componentCount": 6,
        "textChars": 945,
        "nDataPoints": 12,
        "notes": "Evercore Partners slide, likely part of a M&A advisory deck.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 14:28:59.786+00",
          "seconds": 2.938,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de06f-3b38-752a-9438-bd762337d787/3",
        "deck": "/decks/019de06f-3b38-752a-9438-bd762337d787",
        "deckAnchor": "/decks/019de06f-3b38-752a-9438-bd762337d787#slide-3",
        "deckJson": "/decks/019de06f-3b38-752a-9438-bd762337d787.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.08,
            "w": 0.9,
            "x": 0.05,
            "y": 0.78
          },
          "kind": "disclaimer",
          "text": "Please note that the tax treatment assumed for the transaction is complicated and based on a preliminary set of discussions with the Company, and that the analysis might change materially based on a more definitive analysis of the tax treatment by the Company and its advisors",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Disclaimer",
              "slug": "disclaimer",
              "status": "active",
              "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc",
              "version": 1,
              "description": "Legal/cautionary text that occupies most of the body of its slide."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.786+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ce7410fe-769c-4c31-8f88-57880d0f5e40",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.9,
            "x": 0.05,
            "y": 0.53
          },
          "kind": "list",
          "text": "In Scenario 2, Deluxe funds the transaction through debt and a PIPE from a Sponsor",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.786+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "94b14451-d7d5-49a4-98e1-8dd1c51e8516",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.1,
            "w": 0.9,
            "x": 0.05,
            "y": 0.18
          },
          "kind": "list",
          "text": "Assumes Harland Clarke (\"HC\") payments business is sold to Deluxe for 100% cash consideration, paid to MFW, with gross proceeds ranging from $1,500 million to $1,800 million, equivalent to a range of 4.9x to 5.9x HC's last four quarters (\"LFQ\") EBITDA",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.786+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a3c3f10d-302e-4aa0-8a0a-33e07e2ab799",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.06,
            "w": 0.9,
            "x": 0.05,
            "y": 0.45
          },
          "kind": "list",
          "text": "In Scenario 1, Deluxe raises new debt at 7.0% to fund 100% of the acquisition costs (i.e. Deluxe borrows between $1,500 million and $1,800 million of new debt depending on the purchase price)",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.786+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c0df54dd-0910-4fdf-bccb-73b5d34c88a6",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.9,
            "x": 0.05,
            "y": 0.68
          },
          "kind": "list",
          "text": "We analyze a range of possible expense synergies from $0 million to $150 million per year on a run-rate basis",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.786+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ef2e566c-dabc-4e6b-98df-3b7c8d586544",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.4,
            "x": 0.05,
            "y": 0.12
          },
          "kind": "title",
          "text": "Illustrative Transaction Assumptions",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.786+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5e82a262-a9df-4d0c-9e07-c13fac506a50",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Scenario Analysis",
            "slug": "scenario-analysis",
            "status": "active",
            "bestFor": null,
            "canonId": "ca76b81a-ec1d-403f-b1e6-8d6eec3bf93e",
            "version": 1,
            "bodyDocId": null,
            "description": null,
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "f2f1a000-d3f1-4630-9ebf-630a983182ae",
          "evidence": "list/bullet: Assumes Harland Clarke (\"HC\") payments business is sold to Deluxe for 100% cash consideration",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-17 03:29:53.847024+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 3,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": null,
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 4,
          "arc": {
            "name": "The Consultant's Gambit",
            "slug": "consultants-gambit",
            "status": "active",
            "bestFor": "Business cases, project proposals, strategic recommendations",
            "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
            "description": null,
            "familyLabel": null
          },
          "from": 3,
          "name": "Situation & Context",
          "beatId": "22f60c4e-5b9a-4b97-8d0f-15befe563e83",
          "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
          "beatType": {
            "name": "Situation & Context",
            "slug": "consultants-gambit-situation-context",
            "status": "active",
            "canonId": "019dd9b8-05ae-741b-992d-65ee83c639b3",
            "version": 1,
            "description": null
          },
          "evidence": "Illustrative Transaction Assumptions and Cost Synergy Potential",
          "position": 0,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Setup",
            "slug": "setup",
            "status": "active",
            "canonId": "019dd9b8-020e-7505-af9b-d9b9a4679bcc",
            "version": 1,
            "description": "Where the deck grounds the reader before doing anything else. Almost every arc opens here."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [
        {
          "to": 6,
          "from": 3,
          "loop": {
            "name": "40_mece_breakdown",
            "slug": "40-mece-breakdown",
            "status": "active",
            "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
            "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
            "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories",
            "familyLabel": null
          },
          "matchId": "1ab1485c-2b09-4f12-b141-b62f7a8c7490",
          "evidence": "Structured analysis and evidence-based approach",
          "position": 0,
          "objective": "Break down the financial analysis and synergy potential",
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-16 22:04:53.725879+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 4,
      "type": "setup",
      "title": "Includes two tables: one for illustrative synergy ranges and one for precedent transaction data.",
      "function": "compare_options",
      "rawType": "comparison_table",
      "block": null,
      "metadata": {
        "slideType": "comparison_table",
        "slideTypeCanon": {
          "name": "Comparison table",
          "slug": "comparison_table",
          "status": "active",
          "canonId": "019de52d-0a06-73f8-8813-fe022fab1de2",
          "version": 1,
          "description": null
        },
        "function": "compare_options",
        "functionCanon": {
          "name": "Compare options",
          "slug": "compare_options",
          "status": "active",
          "canonId": "019de52d-167f-7038-aebc-70a9d2e0e33b",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 30,
        "componentCount": 4,
        "textChars": 290,
        "nDataPoints": 48,
        "notes": "Includes two tables: one for illustrative synergy ranges and one for precedent transaction data.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 14:28:59.481+00",
          "seconds": 2.626,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de06f-3b38-752a-9438-bd762337d787/4",
        "deck": "/decks/019de06f-3b38-752a-9438-bd762337d787",
        "deckAnchor": "/decks/019de06f-3b38-752a-9438-bd762337d787#slide-4",
        "deckJson": "/decks/019de06f-3b38-752a-9438-bd762337d787.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.04,
            "w": 0.65,
            "x": 0.07,
            "y": 0.87
          },
          "kind": "disclaimer",
          "text": "Source: Company filings. (1) \"Cash operating expenses\" includes all costs of goods sold and selling, general and administrative expenses, excluding depreciation and amortization.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Disclaimer",
              "slug": "disclaimer",
              "status": "active",
              "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc",
              "version": 1,
              "description": "Legal/cautionary text that occupies most of the body of its slide."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.481+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2e51ab45-cd28-4e9c-9549-7fa7142fba19",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.33,
            "w": 0.78,
            "x": 0.11,
            "y": 0.53
          },
          "kind": "table",
          "text": "Precedent Announced Synergies table",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.481+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "1db78de9-5d8a-4d3f-9e9d-d1272a423c02",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.33,
            "w": 0.78,
            "x": 0.11,
            "y": 0.17
          },
          "kind": "table",
          "text": "Illustrative Range of Cost Synergies table",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.481+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c2093204-dbca-446a-9de1-f6c743b038f4",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.38,
            "x": 0.07,
            "y": 0.13
          },
          "kind": "title",
          "text": "Illustrative Cost Synergy Potential",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.481+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "0b4da14d-6dad-45f5-807a-2247e6798408",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 4,
          "arc": {
            "name": "The Consultant's Gambit",
            "slug": "consultants-gambit",
            "status": "active",
            "bestFor": "Business cases, project proposals, strategic recommendations",
            "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
            "description": null,
            "familyLabel": null
          },
          "from": 3,
          "name": "Situation & Context",
          "beatId": "22f60c4e-5b9a-4b97-8d0f-15befe563e83",
          "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
          "beatType": {
            "name": "Situation & Context",
            "slug": "consultants-gambit-situation-context",
            "status": "active",
            "canonId": "019dd9b8-05ae-741b-992d-65ee83c639b3",
            "version": 1,
            "description": null
          },
          "evidence": "Illustrative Transaction Assumptions and Cost Synergy Potential",
          "position": 0,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Setup",
            "slug": "setup",
            "status": "active",
            "canonId": "019dd9b8-020e-7505-af9b-d9b9a4679bcc",
            "version": 1,
            "description": "Where the deck grounds the reader before doing anything else. Almost every arc opens here."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [
        {
          "to": 6,
          "from": 3,
          "loop": {
            "name": "40_mece_breakdown",
            "slug": "40-mece-breakdown",
            "status": "active",
            "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
            "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
            "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories",
            "familyLabel": null
          },
          "matchId": "1ab1485c-2b09-4f12-b141-b62f7a8c7490",
          "evidence": "Structured analysis and evidence-based approach",
          "position": 0,
          "objective": "Break down the financial analysis and synergy potential",
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-16 22:04:53.725879+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 5,
      "type": "setup",
      "title": "The slide compares 100% debt financing vs. debt and PIPE financing across varying purchase price multiples and synergy levels.",
      "function": "compare_options",
      "rawType": "scenario_analysis",
      "block": null,
      "metadata": {
        "slideType": "scenario_analysis",
        "slideTypeCanon": {
          "name": "Scenario analysis",
          "slug": "scenario_analysis",
          "status": "active",
          "canonId": "019de52d-0d4d-7022-a603-242c1dd0d760",
          "version": 1,
          "description": null
        },
        "function": "compare_options",
        "functionCanon": {
          "name": "Compare options",
          "slug": "compare_options",
          "status": "active",
          "canonId": "019de52d-167f-7038-aebc-70a9d2e0e33b",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 41,
        "componentCount": 4,
        "textChars": 532,
        "nDataPoints": 64,
        "notes": "The slide compares 100% debt financing vs. debt and PIPE financing across varying purchase price multiples and synergy levels.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 14:28:59.347+00",
          "seconds": 2.481,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de06f-3b38-752a-9438-bd762337d787/5",
        "deck": "/decks/019de06f-3b38-752a-9438-bd762337d787",
        "deckAnchor": "/decks/019de06f-3b38-752a-9438-bd762337d787#slide-5",
        "deckJson": "/decks/019de06f-3b38-752a-9438-bd762337d787.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.08,
            "w": 0.6,
            "x": 0.05,
            "y": 0.83
          },
          "kind": "disclaimer",
          "text": "Source: FactSet, Montana Projections – Updated Case. Note: Last Four Quarters (LFQ) as of 6/30/11. Note: Deluxe existing credit facility limits pro forma leverage 12 months after the close of a transaction to 3.25x pro forma LFQ EBITDA.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Disclaimer",
              "slug": "disclaimer",
              "status": "active",
              "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc",
              "version": 1,
              "description": "Legal/cautionary text that occupies most of the body of its slide."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.347+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "fbca1894-fdde-4283-9991-82d23780b78c",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.9,
            "x": 0.05,
            "y": 0.55
          },
          "kind": "table",
          "text": "Scenario 2: Deluxe Financing from Debt and PIPE - 2012E Cash EPS Accretion/(Dilution) and PF MergeCo Leverage tables",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Scenario table",
              "slug": "scenario",
              "status": "active",
              "canonId": "019de52d-0374-7778-b2bc-9f279d34d01f",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "scenario",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.347+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "1be515e1-d05c-4cf0-89da-663d8e2f22d8",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.9,
            "x": 0.05,
            "y": 0.25
          },
          "kind": "table",
          "text": "Scenario 1: 100% Debt Financing by Deluxe - 2012E Cash EPS Accretion/(Dilution) and PF MergeCo Leverage tables",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Scenario table",
              "slug": "scenario",
              "status": "active",
              "canonId": "019de52d-0374-7778-b2bc-9f279d34d01f",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "scenario",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.347+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b363cff5-8cda-426b-8bf0-4d61160182c8",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.6,
            "x": 0.05,
            "y": 0.13
          },
          "kind": "title",
          "text": "Illustrative Cash EPS Accretion/Dilution to Deluxe – Synergies Ramp-Up",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.347+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "7ac55bf4-4da1-447f-8804-2249926d80f9",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Scenario Analysis",
            "slug": "scenario-analysis",
            "status": "active",
            "bestFor": null,
            "canonId": "ca76b81a-ec1d-403f-b1e6-8d6eec3bf93e",
            "version": 1,
            "bodyDocId": null,
            "description": null,
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "5dbc9574-74dc-46c5-9bad-e2f4745125af",
          "evidence": "This slide presents scenario analysis for Illustrative Cash EPS Accretion/Dilution to Deluxe – Synergies Ramp-Up.",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.9,
          "extraction": {
            "at": "2026-07-16 23:20:09.072371+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 5,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": null,
          "narrativePurpose": null
        },
        {
          "tool": {
            "name": "Table data",
            "slug": "table-data",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
            "version": 1,
            "bodyDocId": null,
            "description": "Tabular layouts of structured data.",
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "4a70a59d-adf0-4633-af05-c98af1f1899e",
          "evidence": "The slide contains tables with scenario data for accretion/dilution and leverage.",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-16 23:20:09.110982+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 5,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": "common",
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 6,
          "arc": {
            "name": "The Consultant's Gambit",
            "slug": "consultants-gambit",
            "status": "active",
            "bestFor": "Business cases, project proposals, strategic recommendations",
            "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
            "description": null,
            "familyLabel": null
          },
          "from": 5,
          "name": "Problem & Complication",
          "beatId": "b5b8909e-bcf1-457f-b0e1-bf246e3b154c",
          "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
          "beatType": {
            "name": "Problem & Complication",
            "slug": "consultants-gambit-problem-complication",
            "status": "active",
            "canonId": "019dd9b8-064a-777f-a374-e9a8c43dedd4",
            "version": 1,
            "description": null
          },
          "evidence": "Illustrative Cash EPS Accretion/Dilution to Deluxe – Synergies Ramp-Up",
          "position": 1,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Complication",
            "slug": "complication",
            "status": "active",
            "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579",
            "version": 1,
            "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [
        {
          "to": 6,
          "from": 3,
          "loop": {
            "name": "40_mece_breakdown",
            "slug": "40-mece-breakdown",
            "status": "active",
            "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
            "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
            "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories",
            "familyLabel": null
          },
          "matchId": "1ab1485c-2b09-4f12-b141-b62f7a8c7490",
          "evidence": "Structured analysis and evidence-based approach",
          "position": 0,
          "objective": "Break down the financial analysis and synergy potential",
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-16 22:04:53.725879+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 6,
      "type": "analysis",
      "title": "Includes three distinct data tables analyzing the transaction impact.",
      "function": "quantify_impact",
      "rawType": "financial_analysis",
      "block": null,
      "metadata": {
        "slideType": "financial_analysis",
        "slideTypeCanon": {
          "name": "Financial analysis",
          "slug": "financial_analysis",
          "status": "active",
          "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13",
          "version": 1,
          "description": null
        },
        "function": "quantify_impact",
        "functionCanon": {
          "name": "Quantify impact",
          "slug": "quantify_impact",
          "status": "active",
          "canonId": "019de52d-1630-720d-b57d-fa7f76bebd8d",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 46,
        "componentCount": 5,
        "textChars": 502,
        "nDataPoints": 60,
        "notes": "Includes three distinct data tables analyzing the transaction impact.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 14:29:03.058+00",
          "seconds": 6.118,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de06f-3b38-752a-9438-bd762337d787/6",
        "deck": "/decks/019de06f-3b38-752a-9438-bd762337d787",
        "deckAnchor": "/decks/019de06f-3b38-752a-9438-bd762337d787#slide-6",
        "deckJson": "/decks/019de06f-3b38-752a-9438-bd762337d787.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.08,
            "w": 0.5,
            "x": 0.05,
            "y": 0.84
          },
          "kind": "disclaimer",
          "text": "Source: FactSet, Montana Projections - Updated Case. Note: Last Four Quarters (LFQ) as of 6/30/11. (1) Assumes that MFW will use all of the cash on its balance sheet in the re-financing post-sale other than $75 million, which remains as cash. (2) Includes allocation of divisional and corporate expense based on pro rata share of M&F Worldwide revenue.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Disclaimer",
              "slug": "disclaimer",
              "status": "active",
              "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc",
              "version": 1,
              "description": "Legal/cautionary text that occupies most of the body of its slide."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:03.058+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "9dcd7d27-b0d9-4d7c-bbab-a09c740da6b5",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.15,
            "w": 0.42,
            "x": 0.05,
            "y": 0.205
          },
          "kind": "table",
          "text": "Net Cash Proceeds from Sale table",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:03.058+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "062d4f9f-a3cc-4bd2-bb6b-8504d8e7afd9",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.15,
            "w": 0.42,
            "x": 0.28,
            "y": 0.55
          },
          "kind": "table",
          "text": "PF Value per MFW RemainCo Share table",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:03.058+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "67e2f43e-3f50-4d0a-85b6-15da256ad05a",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.25,
            "w": 0.42,
            "x": 0.52,
            "y": 0.205
          },
          "kind": "table",
          "text": "Pro Forma Capital Structure table",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:03.058+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c689160c-b1b9-4d74-a44b-20afe8d04ed7",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.4,
            "x": 0.05,
            "y": 0.13
          },
          "kind": "title",
          "text": "Illustrative Value Creation to MFW Shareholders",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:03.058+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a7f1dc30-84f4-49c0-b0ba-17c4398c9126",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Table data",
            "slug": "table-data",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
            "version": 1,
            "bodyDocId": null,
            "description": "Tabular layouts of structured data.",
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "601ea937-4f1e-4193-b22c-aaa776e5a834",
          "evidence": "The slide contains tables with data on value per share, net cash proceeds, and pro forma capital structure.",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-16 23:20:09.186477+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 6,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": "common",
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 6,
          "arc": {
            "name": "The Consultant's Gambit",
            "slug": "consultants-gambit",
            "status": "active",
            "bestFor": "Business cases, project proposals, strategic recommendations",
            "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
            "description": null,
            "familyLabel": null
          },
          "from": 5,
          "name": "Problem & Complication",
          "beatId": "b5b8909e-bcf1-457f-b0e1-bf246e3b154c",
          "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
          "beatType": {
            "name": "Problem & Complication",
            "slug": "consultants-gambit-problem-complication",
            "status": "active",
            "canonId": "019dd9b8-064a-777f-a374-e9a8c43dedd4",
            "version": 1,
            "description": null
          },
          "evidence": "Illustrative Cash EPS Accretion/Dilution to Deluxe – Synergies Ramp-Up",
          "position": 1,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Complication",
            "slug": "complication",
            "status": "active",
            "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579",
            "version": 1,
            "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [
        {
          "to": 6,
          "from": 3,
          "loop": {
            "name": "40_mece_breakdown",
            "slug": "40-mece-breakdown",
            "status": "active",
            "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
            "canonId": "019dd956-763c-765e-8b68-6ee3ae1ef184",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
            "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories",
            "familyLabel": null
          },
          "matchId": "1ab1485c-2b09-4f12-b141-b62f7a8c7490",
          "evidence": "Structured analysis and evidence-based approach",
          "position": 0,
          "objective": "Break down the financial analysis and synergy potential",
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-16 22:04:53.725879+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 7,
      "type": "analysis",
      "title": "The slide compares two valuation scenarios for HC (4.9x vs 4.5x EBITDA) and their impact on synergy distribution.",
      "function": "analyze_data",
      "rawType": "financial_analysis",
      "block": null,
      "metadata": {
        "slideType": "financial_analysis",
        "slideTypeCanon": {
          "name": "Financial analysis",
          "slug": "financial_analysis",
          "status": "active",
          "canonId": "019de52d-0b45-709c-bfcc-0cf83dd00f13",
          "version": 1,
          "description": null
        },
        "function": "analyze_data",
        "functionCanon": {
          "name": "Analyze data",
          "slug": "analyze_data",
          "status": "active",
          "canonId": "019de52d-1590-7413-8c82-cc218cff40b4",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 32,
        "componentCount": 4,
        "textChars": 336,
        "nDataPoints": 48,
        "notes": "The slide compares two valuation scenarios for HC (4.9x vs 4.5x EBITDA) and their impact on synergy distribution.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 14:28:59.948+00",
          "seconds": 2.905,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de06f-3b38-752a-9438-bd762337d787/7",
        "deck": "/decks/019de06f-3b38-752a-9438-bd762337d787",
        "deckAnchor": "/decks/019de06f-3b38-752a-9438-bd762337d787#slide-7",
        "deckJson": "/decks/019de06f-3b38-752a-9438-bd762337d787.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.05,
            "w": 0.9,
            "x": 0.05,
            "y": 0.19
          },
          "kind": "paragraph",
          "text": "The following analysis estimates the split of synergy value between Deluxe vs. M&F at a range of run-rate synergy levels and of purchase prices for HC",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.948+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a1d7c912-6d4a-4bc3-8ea4-940f1cbe41a0",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.3,
            "x": 0.05,
            "y": 0.9
          },
          "kind": "source-note",
          "text": "Source: FactSet, Montana Projections – Updated Case",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.948+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "fa7cfd95-2405-4ca1-b141-2f33a4cdff1f",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.4,
            "w": 0.9,
            "x": 0.05,
            "y": 0.45
          },
          "kind": "table",
          "text": "Four tables showing % of synergy benefits retained by DLX and MFW under different valuation scenarios.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.948+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b4c43f62-2659-46ce-afa7-869a9df19d10",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.35,
            "x": 0.05,
            "y": 0.13
          },
          "kind": "title",
          "text": "Illustrative Sharing of Synergies",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.948+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "dfbf171f-6b5b-42c3-af55-b6234f4124f4",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Table data",
            "slug": "table-data",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
            "version": 1,
            "bodyDocId": null,
            "description": "Tabular layouts of structured data.",
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "9aac52fc-1fd7-4e64-9520-4bbc756a61dc",
          "evidence": "The slide contains tables showing the percentage of synergy benefits retained under different scenarios.",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-16 23:20:09.267698+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 7,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": "common",
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 8,
          "arc": {
            "name": "The Consultant's Gambit",
            "slug": "consultants-gambit",
            "status": "active",
            "bestFor": "Business cases, project proposals, strategic recommendations",
            "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
            "description": null,
            "familyLabel": null
          },
          "from": 7,
          "name": "Evidence & Proof",
          "beatId": "a8f88a82-abf8-4d8c-87d2-83598eb74a27",
          "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
          "beatType": {
            "name": "Evidence & Proof",
            "slug": "consultants-gambit-evidence-proof",
            "status": "active",
            "canonId": "019dd9b8-07b1-7688-8e1e-7637fec3802a",
            "version": 1,
            "description": null
          },
          "evidence": "Illustrative Value Creation to MFW Shareholders",
          "position": 2,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Evidence",
            "slug": "evidence",
            "status": "active",
            "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a",
            "version": 1,
            "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [
        {
          "to": 10,
          "from": 7,
          "loop": {
            "name": "27_cost_of_inaction",
            "slug": "27-cost-of-inaction",
            "status": "active",
            "bestFor": "Urgent budget requests, compliance, risk mitigation",
            "canonId": "019dd956-70d1-7395-a15b-857ba858b394",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
            "description": "Quantify what happens if the audience does nothing",
            "familyLabel": null
          },
          "matchId": "f9adeb25-5523-4583-98d8-f9268ffa5589",
          "evidence": "Illustrative Value Creation to MFW Shareholders",
          "position": 1,
          "objective": "Highlight the cost of inaction and value creation potential",
          "confidence": 0.6,
          "extraction": {
            "at": "2026-07-16 22:04:53.757016+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 8,
      "type": "appendix",
      "function": "appendix",
      "rawType": "appendix",
      "block": null,
      "metadata": {
        "slideType": "appendix",
        "slideTypeCanon": {
          "name": "Appendix",
          "slug": "appendix",
          "status": "active",
          "canonId": "019de52d-0762-71f8-b564-89ab863301cc",
          "version": 1,
          "description": null
        },
        "function": "appendix",
        "functionCanon": {
          "name": "Appendix",
          "slug": "appendix",
          "status": "active",
          "canonId": "019de52d-138d-750b-83c3-49b4bc7a7a38",
          "version": 1,
          "description": null
        },
        "density": "sparse",
        "densityScore": 7,
        "componentCount": 3,
        "textChars": 57,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 14:29:02.625+00",
          "seconds": 5.376,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de06f-3b38-752a-9438-bd762337d787/8",
        "deck": "/decks/019de06f-3b38-752a-9438-bd762337d787",
        "deckAnchor": "/decks/019de06f-3b38-752a-9438-bd762337d787#slide-8",
        "deckJson": "/decks/019de06f-3b38-752a-9438-bd762337d787.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.015,
            "w": 0.189,
            "x": 0.738,
            "y": 0.095
          },
          "kind": "disclaimer",
          "text": "Preliminary Draft - Confidential",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Disclaimer",
              "slug": "disclaimer",
              "status": "active",
              "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc",
              "version": 1,
              "description": "Legal/cautionary text that occupies most of the body of its slide."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:02.625+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "1aa39e12-0a82-4c1c-b97e-2194e1a840e8",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.018,
            "w": 0.145,
            "x": 0.073,
            "y": 0.878
          },
          "kind": "other",
          "text": "EVERCORE PARTNERS",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:02.625+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c2bfe243-1fa3-4a6e-95d1-77a67b9ec8aa",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.035,
            "w": 0.125,
            "x": 0.073,
            "y": 0.435
          },
          "kind": "title",
          "text": "Appendix",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:02.625+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "3663642c-1397-41fe-b03c-5f921c0826f9",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 8,
          "arc": {
            "name": "The Consultant's Gambit",
            "slug": "consultants-gambit",
            "status": "active",
            "bestFor": "Business cases, project proposals, strategic recommendations",
            "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
            "description": null,
            "familyLabel": null
          },
          "from": 7,
          "name": "Evidence & Proof",
          "beatId": "a8f88a82-abf8-4d8c-87d2-83598eb74a27",
          "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
          "beatType": {
            "name": "Evidence & Proof",
            "slug": "consultants-gambit-evidence-proof",
            "status": "active",
            "canonId": "019dd9b8-07b1-7688-8e1e-7637fec3802a",
            "version": 1,
            "description": null
          },
          "evidence": "Illustrative Value Creation to MFW Shareholders",
          "position": 2,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Evidence",
            "slug": "evidence",
            "status": "active",
            "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a",
            "version": 1,
            "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [
        {
          "to": 10,
          "from": 7,
          "loop": {
            "name": "27_cost_of_inaction",
            "slug": "27-cost-of-inaction",
            "status": "active",
            "bestFor": "Urgent budget requests, compliance, risk mitigation",
            "canonId": "019dd956-70d1-7395-a15b-857ba858b394",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
            "description": "Quantify what happens if the audience does nothing",
            "familyLabel": null
          },
          "matchId": "f9adeb25-5523-4583-98d8-f9268ffa5589",
          "evidence": "Illustrative Value Creation to MFW Shareholders",
          "position": 1,
          "objective": "Highlight the cost of inaction and value creation potential",
          "confidence": 0.6,
          "extraction": {
            "at": "2026-07-16 22:04:53.757016+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 9,
      "type": "analysis",
      "title": "The slide presents a financial sensitivity analysis comparing two financing scenarios (100% debt vs. debt and PIPE) across varying purchase price multiples and ",
      "function": "analyze_data",
      "rawType": "appendix_data",
      "block": null,
      "metadata": {
        "slideType": "appendix_data",
        "slideTypeCanon": {
          "name": "Appendix data",
          "slug": "appendix_data",
          "status": "active",
          "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd",
          "version": 1,
          "description": null
        },
        "function": "analyze_data",
        "functionCanon": {
          "name": "Analyze data",
          "slug": "analyze_data",
          "status": "active",
          "canonId": "019de52d-1590-7413-8c82-cc218cff40b4",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 33,
        "componentCount": 3,
        "textChars": 464,
        "nDataPoints": 64,
        "notes": "The slide presents a financial sensitivity analysis comparing two financing scenarios (100% debt vs. debt and PIPE) across varying purchase price multiples and synergy levels.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 14:29:00.675+00",
          "seconds": 3.355,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de06f-3b38-752a-9438-bd762337d787/9",
        "deck": "/decks/019de06f-3b38-752a-9438-bd762337d787",
        "deckAnchor": "/decks/019de06f-3b38-752a-9438-bd762337d787#slide-9",
        "deckJson": "/decks/019de06f-3b38-752a-9438-bd762337d787.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.1,
            "w": 0.92,
            "x": 0.04,
            "y": 0.85
          },
          "kind": "disclaimer",
          "text": "Source: FactSet, Montana Projections – Updated Case. Note: Last Four Quarters (LFQ) as of 6/30/11. Note: Deluxe existing credit facility limits pro forma leverage 12 months after the close of a transaction to 3.25x pro forma LFQ EBITDA. (1) Includes allocation of divisional and corporate expense based on pro rata share of M&F Worldwide revenue.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Disclaimer",
              "slug": "disclaimer",
              "status": "active",
              "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc",
              "version": 1,
              "description": "Legal/cautionary text that occupies most of the body of its slide."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:00.675+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "136004f6-5eb1-4de3-8ff1-75e4905dfd6c",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.72,
            "w": 0.92,
            "x": 0.04,
            "y": 0.19
          },
          "kind": "table",
          "text": "Sensitivity tables for Cash EPS and PF Leverage",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:00.675+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4885f018-9500-4c1f-9eb3-794a37e789bb",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.75,
            "x": 0.05,
            "y": 0.13
          },
          "kind": "title",
          "text": "Illustrative Cash EPS Accretion/Dilution to Deluxe – Run-Rate Synergies",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:00.675+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "dace5180-7aab-4fb7-8d62-26e8c8e15bc5",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Table data",
            "slug": "table-data",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
            "version": 1,
            "bodyDocId": null,
            "description": "Tabular layouts of structured data.",
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "d67f3131-a9c7-4fa8-a608-8fc1eaf69ebf",
          "evidence": "The slide contains sensitivity tables for cash EPS and pro forma leverage.",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-16 23:20:09.384751+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 9,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": "common",
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 12,
          "arc": {
            "name": "The Consultant's Gambit",
            "slug": "consultants-gambit",
            "status": "active",
            "bestFor": "Business cases, project proposals, strategic recommendations",
            "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
            "description": null,
            "familyLabel": null
          },
          "from": 9,
          "name": "Impact & Next Steps",
          "beatId": "f7a69823-b203-428b-85be-36a3aa233d10",
          "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
          "beatType": {
            "name": "Impact & Next Steps",
            "slug": "consultants-gambit-impact-next-steps",
            "status": "active",
            "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655",
            "version": 1,
            "description": null
          },
          "evidence": "Appendix and supporting data",
          "position": 3,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Resolution",
            "slug": "resolution",
            "status": "active",
            "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b",
            "version": 1,
            "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [
        {
          "to": 10,
          "from": 7,
          "loop": {
            "name": "27_cost_of_inaction",
            "slug": "27-cost-of-inaction",
            "status": "active",
            "bestFor": "Urgent budget requests, compliance, risk mitigation",
            "canonId": "019dd956-70d1-7395-a15b-857ba858b394",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
            "description": "Quantify what happens if the audience does nothing",
            "familyLabel": null
          },
          "matchId": "f9adeb25-5523-4583-98d8-f9268ffa5589",
          "evidence": "Illustrative Value Creation to MFW Shareholders",
          "position": 1,
          "objective": "Highlight the cost of inaction and value creation potential",
          "confidence": 0.6,
          "extraction": {
            "at": "2026-07-16 22:04:53.757016+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 10,
      "type": "setup",
      "title": "Includes an annotation regarding an offer price of 5.6x on 6/13/11.",
      "function": "compare_peers",
      "rawType": "appendix_data",
      "block": null,
      "metadata": {
        "slideType": "appendix_data",
        "slideTypeCanon": {
          "name": "Appendix data",
          "slug": "appendix_data",
          "status": "active",
          "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd",
          "version": 1,
          "description": null
        },
        "function": "compare_peers",
        "functionCanon": {
          "name": "Compare peers",
          "slug": "compare_peers",
          "status": "active",
          "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630",
          "version": 1,
          "description": null
        },
        "density": "dense",
        "densityScore": 52,
        "componentCount": 6,
        "textChars": 464,
        "nDataPoints": 40,
        "notes": "Includes an annotation regarding an offer price of 5.6x on 6/13/11.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 14:29:00.622+00",
          "seconds": 3.213,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de06f-3b38-752a-9438-bd762337d787/10",
        "deck": "/decks/019de06f-3b38-752a-9438-bd762337d787",
        "deckAnchor": "/decks/019de06f-3b38-752a-9438-bd762337d787#slide-10",
        "deckJson": "/decks/019de06f-3b38-752a-9438-bd762337d787.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.07,
            "w": 0.15,
            "x": 0.72,
            "y": 0.65
          },
          "kind": "callout",
          "text": "6/13/11 - Offer by MacAndrews & Forbes Holdings",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Callout",
              "slug": "callout",
              "status": "active",
              "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2",
              "version": 1,
              "description": "Highlighted callout box."
            },
            "tool": null,
            "subkind": {
              "name": "Primary callout",
              "slug": "primary",
              "status": "active",
              "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "primary",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:00.622+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "27eee477-532f-4144-ba59-1a182fd7ade9",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.5,
            "w": 0.9,
            "x": 0.05,
            "y": 0.35
          },
          "kind": "chart",
          "text": "Line chart showing historical trading multiples from 8/17/09 to 8/16/11.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Line chart",
              "slug": "line",
              "status": "active",
              "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "line",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:00.622+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c9a77cef-f663-462f-ad0c-fb815c8d1dd3",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.6,
            "x": 0.2,
            "y": 0.83
          },
          "kind": "legend",
          "text": "Legend for M & F Worldwide, RRD, DLX, and QUAD.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Legend",
              "slug": "legend",
              "status": "active",
              "canonId": "31361933-3d22-4c70-bbad-0801e9fffc0c",
              "version": 1,
              "description": "Color/symbol decoder placed adjacent to a chart or diagram."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:00.622+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "0e109d2c-ecb9-43fa-9a7e-6a2bff9fefe1",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.6,
            "x": 0.05,
            "y": 0.88
          },
          "kind": "paragraph",
          "text": "Source: FactSet, Company filings. Note: LFQ through 6/30/11. Figures adjusted for acquisitions where relevant and possible using public information.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:00.622+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d7f8cd45-b942-45ad-bbf2-6fccdbd7df84",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.15,
            "w": 0.7,
            "x": 0.15,
            "y": 0.2
          },
          "kind": "table",
          "text": "Table showing average multiples for Montana, RRD, DLX, and QUAD over various time periods.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:00.622+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "873d1412-cffd-49c5-afc3-518ea163e41a",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.6,
            "x": 0.05,
            "y": 0.13
          },
          "kind": "title",
          "text": "2-Year Historical Relative Trading Multiple – TEV/LFQ EBITDA",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:00.622+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "598eb796-bf4e-4ee9-a518-0fd1cda84033",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 12,
          "arc": {
            "name": "The Consultant's Gambit",
            "slug": "consultants-gambit",
            "status": "active",
            "bestFor": "Business cases, project proposals, strategic recommendations",
            "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
            "description": null,
            "familyLabel": null
          },
          "from": 9,
          "name": "Impact & Next Steps",
          "beatId": "f7a69823-b203-428b-85be-36a3aa233d10",
          "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
          "beatType": {
            "name": "Impact & Next Steps",
            "slug": "consultants-gambit-impact-next-steps",
            "status": "active",
            "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655",
            "version": 1,
            "description": null
          },
          "evidence": "Appendix and supporting data",
          "position": 3,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Resolution",
            "slug": "resolution",
            "status": "active",
            "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b",
            "version": 1,
            "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [
        {
          "to": 10,
          "from": 7,
          "loop": {
            "name": "27_cost_of_inaction",
            "slug": "27-cost-of-inaction",
            "status": "active",
            "bestFor": "Urgent budget requests, compliance, risk mitigation",
            "canonId": "019dd956-70d1-7395-a15b-857ba858b394",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
            "description": "Quantify what happens if the audience does nothing",
            "familyLabel": null
          },
          "matchId": "f9adeb25-5523-4583-98d8-f9268ffa5589",
          "evidence": "Illustrative Value Creation to MFW Shareholders",
          "position": 1,
          "objective": "Highlight the cost of inaction and value creation potential",
          "confidence": 0.6,
          "extraction": {
            "at": "2026-07-16 22:04:53.757016+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 11,
      "type": "setup",
      "title": "Data as of 8/16/2011. Includes mean, median, max, and min calculations for the peer group.",
      "function": "compare_peers",
      "rawType": "appendix_data",
      "block": null,
      "metadata": {
        "slideType": "appendix_data",
        "slideTypeCanon": {
          "name": "Appendix data",
          "slug": "appendix_data",
          "status": "active",
          "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd",
          "version": 1,
          "description": null
        },
        "function": "compare_peers",
        "functionCanon": {
          "name": "Compare peers",
          "slug": "compare_peers",
          "status": "active",
          "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 29,
        "componentCount": 4,
        "textChars": 264,
        "nDataPoints": 250,
        "notes": "Data as of 8/16/2011. Includes mean, median, max, and min calculations for the peer group.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 14:29:00.397+00",
          "seconds": 2.731,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de06f-3b38-752a-9438-bd762337d787/11",
        "deck": "/decks/019de06f-3b38-752a-9438-bd762337d787",
        "deckAnchor": "/decks/019de06f-3b38-752a-9438-bd762337d787#slide-11",
        "deckJson": "/decks/019de06f-3b38-752a-9438-bd762337d787.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.015,
            "w": 0.2,
            "x": 0.045,
            "y": 0.89
          },
          "kind": "source-note",
          "text": "Source: FactSet, Company filings",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:00.397+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "82ff76df-d5b9-471d-a557-6e857c9037ed",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.65,
            "w": 0.91,
            "x": 0.045,
            "y": 0.19
          },
          "kind": "table",
          "text": "Valuation table with columns for Price, % of 52Wk High, Market Value, Net Debt, TEV, and various multiples (TEV/Revenue, TEV/EBITDA, TEV/EBITDA-Capex, P/E, IBES LT Growth, DIV Yield).",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:00.397+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5d2cc6fd-b371-42b2-97e5-2804a8e8a50c",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.12,
            "x": 0.045,
            "y": 0.085
          },
          "kind": "title",
          "text": "Appendix",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:00.397+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "3728285d-aa4c-4b26-9401-b4096c6fba21",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.025,
            "w": 0.4,
            "x": 0.045,
            "y": 0.13
          },
          "kind": "title",
          "text": "Printing – Illustrative Valuation Metrics",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:29:00.397+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "8dcbe857-b3ff-4b79-a744-108427d5f09c",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Table data",
            "slug": "table-data",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
            "version": 1,
            "bodyDocId": null,
            "description": "Tabular layouts of structured data.",
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "0a547f26-fa74-4020-9c5a-fa6ce684a4be",
          "evidence": "The slide contains a valuation table with various metrics.",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-16 23:20:09.497783+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 11,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": "common",
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 12,
          "arc": {
            "name": "The Consultant's Gambit",
            "slug": "consultants-gambit",
            "status": "active",
            "bestFor": "Business cases, project proposals, strategic recommendations",
            "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
            "description": null,
            "familyLabel": null
          },
          "from": 9,
          "name": "Impact & Next Steps",
          "beatId": "f7a69823-b203-428b-85be-36a3aa233d10",
          "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
          "beatType": {
            "name": "Impact & Next Steps",
            "slug": "consultants-gambit-impact-next-steps",
            "status": "active",
            "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655",
            "version": 1,
            "description": null
          },
          "evidence": "Appendix and supporting data",
          "position": 3,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Resolution",
            "slug": "resolution",
            "status": "active",
            "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b",
            "version": 1,
            "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 12,
      "type": "setup",
      "title": "Includes 'At Offer' and 'At Market' scenarios for Montana, alongside a peer group of 9 printing companies.",
      "function": "compare_peers",
      "rawType": "appendix_data",
      "block": null,
      "metadata": {
        "slideType": "appendix_data",
        "slideTypeCanon": {
          "name": "Appendix data",
          "slug": "appendix_data",
          "status": "active",
          "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd",
          "version": 1,
          "description": null
        },
        "function": "compare_peers",
        "functionCanon": {
          "name": "Compare peers",
          "slug": "compare_peers",
          "status": "active",
          "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630",
          "version": 1,
          "description": null
        },
        "density": "sparse",
        "densityScore": 19,
        "componentCount": 3,
        "textChars": 126,
        "nDataPoints": 120,
        "notes": "Includes 'At Offer' and 'At Market' scenarios for Montana, alongside a peer group of 9 printing companies.",
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-3.1-flash-lite-preview-20260303",
          "runId": null,
          "at": "2026-05-02 14:28:59.972+00",
          "seconds": 2.233,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de06f-3b38-752a-9438-bd762337d787/12",
        "deck": "/decks/019de06f-3b38-752a-9438-bd762337d787",
        "deckAnchor": "/decks/019de06f-3b38-752a-9438-bd762337d787#slide-12",
        "deckJson": "/decks/019de06f-3b38-752a-9438-bd762337d787.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.02,
            "w": 0.2,
            "x": 0.05,
            "y": 0.89
          },
          "kind": "source-note",
          "text": "Source: FactSet, Company filings",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.972+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4938d730-c832-480c-9809-32149983cd79",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.65,
            "w": 0.88,
            "x": 0.06,
            "y": 0.185
          },
          "kind": "table",
          "text": "Table containing financial metrics for Montana and peer companies.",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.972+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "3f585ce6-cd53-4b3d-a0e8-41cf47ee754c",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.35,
            "x": 0.05,
            "y": 0.13
          },
          "kind": "title",
          "text": "Printing – Operating Metrics",
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-02 14:28:59.972+00",
            "model": "google/gemini-3.1-flash-lite-preview-20260303",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "de895b03-43af-4b32-a778-22ddc8086109",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Table data",
            "slug": "table-data",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
            "version": 1,
            "bodyDocId": null,
            "description": "Tabular layouts of structured data.",
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "457258c1-93e4-4964-8404-972c18e65ded",
          "evidence": "The slide contains a table with operating metrics for Montana and peer companies.",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-16 23:20:09.574094+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 12,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": "common",
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 12,
          "arc": {
            "name": "The Consultant's Gambit",
            "slug": "consultants-gambit",
            "status": "active",
            "bestFor": "Business cases, project proposals, strategic recommendations",
            "canonId": "019dd956-5e0a-73c8-b305-81c38c959e9c",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Situation & Context -> Problem & Complication -> Solution & Approach -> Evidence & Proof -> Impact & Next Steps",
            "description": null,
            "familyLabel": null
          },
          "from": 9,
          "name": "Impact & Next Steps",
          "beatId": "f7a69823-b203-428b-85be-36a3aa233d10",
          "matchId": "86397b0a-b8f1-43ac-9b47-540409c4ba61",
          "beatType": {
            "name": "Impact & Next Steps",
            "slug": "consultants-gambit-impact-next-steps",
            "status": "active",
            "canonId": "019dd9b8-0849-7728-9ee9-fd1609c4c655",
            "version": 1,
            "description": null
          },
          "evidence": "Appendix and supporting data",
          "position": 3,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Resolution",
            "slug": "resolution",
            "status": "active",
            "canonId": "019dd9b8-045d-703b-8dd7-e92aba3ba91b",
            "version": 1,
            "description": "How the deck ends. Required in 19/20 arcs. The exception (Sparkline) ends with new bliss which is functionally a resolution."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [],
      "locked": true
    }
  ],
  "arcBeats": [
    {
      "from": 3,
      "to": 4,
      "label": "Situation & Context",
      "description": "Illustrative Transaction Assumptions and Cost Synergy Potential"
    },
    {
      "from": 5,
      "to": 6,
      "label": "Problem & Complication",
      "description": "Illustrative Cash EPS Accretion/Dilution to Deluxe – Synergies Ramp-Up"
    },
    {
      "from": 7,
      "to": 8,
      "label": "Evidence & Proof",
      "description": "Illustrative Value Creation to MFW Shareholders"
    },
    {
      "from": 9,
      "to": 12,
      "label": "Impact & Next Steps",
      "description": "Appendix and supporting data"
    }
  ],
  "loops": [
    {
      "from": 3,
      "to": 6,
      "label": "Mece Breakdown",
      "description": "Break down the financial analysis and synergy potential"
    },
    {
      "from": 7,
      "to": 10,
      "label": "Cost Of Inaction",
      "description": "Highlight the cost of inaction and value creation potential"
    }
  ]
}