{
  "docId": "019dd923-622b-71dc-a6d9-f3b6efbbae97",
  "docSlug": "6b96d4422a6b",
  "documentTitle": "Magellan Health, Inc. (MGLN)",
  "authorId": "03_Starboard_Value",
  "authorName": "Peter A. Feld",
  "documentKindSlug": "shareholder-letter",
  "documentKindLabel": "Shareholder letter",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2019-02-22 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 1,
  "pageCount": 9,
  "prevPage": null,
  "nextPage": 2,
  "slideType": "executive_summary",
  "function": "frame_problem",
  "density": "balanced",
  "nDataPoints": 2,
  "notes": "This is the cover page of an activist investor letter.",
  "elementsJson": [
    "logo_grid",
    "headline_text",
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": "https://imgproxy.kitesheet.com/C2OVUNXCQ_UjbexbQfzOtY2cuOrbgQcchoRQquKyNBI/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82Yjk2ZDQ0MjJhNmIvcDAwMS5qcGc",
  "slideHref": "/slides/019dd923-622b-71dc-a6d9-f3b6efbbae97/1",
  "deckHref": "/decks/019dd923-622b-71dc-a6d9-f3b6efbbae97",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6d9-f3b6efbbae97.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6d9-f3b6efbbae97#slide-1",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "This level of long-term, sustained underperformance is rare and very troubling.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0936-7173-ab16-b2abef4d67ff",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.3,
        "x": 0.35,
        "y": 0.05
      },
      "kind": "image",
      "text": "Starboard Value logo",
      "attrs": null,
      "subkind": "logo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ff5bb6b2-f658-4bf4-a22f-b2c82c866333",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.78,
        "x": 0.11,
        "y": 0.23
      },
      "kind": "paragraph",
      "text": "Dear Fellow Shareholders, Starboard Value LP... currently has a beneficial ownership interest of approximately 9.8%... We are writing today as we believe Magellan is deeply undervalued...",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5fe8e2c1-7354-4cdc-a46e-6931e8352b65",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.7,
        "x": 0.15,
        "y": 0.15
      },
      "kind": "title",
      "text": "A LETTER TO THE SHAREHOLDERS OF MAGELLAN HEALTH, INC.",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0ee3cce3-72b9-43ed-8e7f-3761fe43876e",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 2,
      "from": 1,
      "beatId": "008bec34-6dd5-4b0c-8781-7101be6dfd1b",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Situation & Context",
      "beatSlug": "consultants-gambit-situation-context",
      "evidence": "The executive summary and peer gap slides provide context for the situation.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Setup",
      "parentBeatSlug": "setup"
    }
  ],
  "loops": [
    {
      "to": 9,
      "from": 1,
      "name": "Pre Mortem",
      "slug": "19-pre-mortem",
      "bestFor": "Project kick-offs, risk management, building trust with skeptical stakeholders",
      "matchId": "103b4c9e-55c8-4763-88cf-410b95c7601b",
      "evidence": "The document implies potential negative consequences if the nominees are not supported.",
      "position": 1,
      "objective": "What are the potential consequences of not supporting the nominees?",
      "structure": "The Future Disaster (Hypothetical) -> What Went Wrong -> The Prevention Plan",
      "confidence": 0.6,
      "description": "Build trust by anticipating failure modes before they happen and solving them in advance"
    }
  ],
  "imagePathAlt": "https://imgproxy.kitesheet.com/VTMyN53Ktok61tAkHW8fAgz1V4LDtMNtkhhIqMQlhA0/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82Yjk2ZDQ0MjJhNmIvcDAwMS5wbmc",
  "thumbSrc": "https://imgproxy.kitesheet.com/Px1QhRKIygF7jYUstvtlFb7voShnw7Xg5m-SmYvSlxE/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82Yjk2ZDQ0MjJhNmIvcDAwMS5qcGc",
  "thumbSrcAlt": "https://imgproxy.kitesheet.com/pdtUqHGvHsUZtC8XaBoS4v_gI7i6dw3cK3n0kWpLa_M/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy82Yjk2ZDQ0MjJhNmIvcDAwMS5wbmc"
}