{
  "docId": "019dd923-5e88-73ef-bd5b-35318e29dc88",
  "docSlug": "39791f0d14c5e9fb",
  "documentTitle": "JPM Corp Fin Advisory Corporate Compass Jan 2024",
  "authorId": "JPMorgan",
  "authorName": "J.P. Morgan",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "equity_research",
  "sourceTypeLabel": "Equity research",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.294,
  "pageNumber": 13,
  "pageCount": 15,
  "prevPage": 12,
  "nextPage": 14,
  "slideType": "industry_trends",
  "function": "analyze_data",
  "density": "dense",
  "nDataPoints": 20,
  "notes": "The slide uses a scatter plot to show correlation (R^2=70%) and a bar chart to show quarterly M&A growth.",
  "elementsJson": [
    "headline_text",
    "scatter_plot",
    "bar_chart_vertical",
    "callout_box",
    "bullet_list",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd5b-35318e29dc88/13",
  "deckHref": "/decks/019dd923-5e88-73ef-bd5b-35318e29dc88",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd5b-35318e29dc88.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd5b-35318e29dc88#slide-13",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.05,
        "y": 0.67
      },
      "kind": "callout",
      "text": "Elevated shareholder activism activity and record high references to strategic reviews suggest increased strategic activity may be ahead",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "55048401-535b-4294-9868-d8a9e1e7885a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.45,
        "x": 0.52,
        "y": 0.2
      },
      "kind": "chart",
      "text": "GLOBAL M&A QUARTERLY ANNOUNCED VOLUMES IN 2023 ($BN)",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "72c79caf-c7f6-4cc1-a41c-3fec79261b5b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.45,
        "x": 0.05,
        "y": 0.2
      },
      "kind": "chart",
      "text": "RELATIONSHIP BETWEEN ACTIVISM AND STRATEGIC REVIEWS",
      "attrs": null,
      "subkind": "scatter",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0ae01775-0459-412b-8652-1cdeea37b8f7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.8,
        "x": 0.15,
        "y": 0.75
      },
      "kind": "list",
      "text": "Strategic reviews often result in strategic actions, whether a sale, separation, or significant shift in capital allocation. Prevalent activist campaign activity requires companies to be their own activists. Even as overall M&A activity has been down in 2023, this trend suggests an increase in activity into 2024 as M&A momentum increased through 2023",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "10c20dcc-cec0-4b58-b1b9-9bbbb7157eab",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "M&A volume: $1,025",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-28a8-72e5-a819-d8f4ed2c24e8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.9
      },
      "kind": "source-note",
      "text": "Source: Dealogic, FactSet as of 12/31/2023; 1 Campaigns for U.S. companies with market cap >$1bn; 2 Based on S&P 500 constituents as of 12/31/2022 and excluding non-public constituents as of 01/01/2008, mentions of \"strategic review\" in transcripts, press releases, investor slides and news",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8f38ac09-d8f3-485d-aaab-d9cbdd02c713",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.7,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "title",
      "text": "Activism likely to spur continued strategic reviews...and actions",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "754e94c2-f132-41d8-a5ca-f11268863a75",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 13,
      "from": 11,
      "beatId": "983b63a8-b967-4dc6-ba15-e1c702c6946d",
      "arcName": "Monroe's Motivated Sequence",
      "arcSlug": "monroes-sequence",
      "beatName": "Satisfaction",
      "beatSlug": "monroes-sequence-satisfaction",
      "evidence": "The slides on alternative means of financing and re-thinking the growth-vs.-shareholder return paradigm provide satisfaction.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}