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  "docSlug": "90d63e982928",
  "documentTitle": "PPG Industries, Inc. (PPG)",
  "authorId": "06_Trian_Partners",
  "authorName": "Trian Partners",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2018-10-11 00:00:00",
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  "pageNumber": 14,
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  "notes": "The slide uses a timeline-annotated line chart to correlate specific takeover events with stock price volatility and a subsequent earnings miss.",
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      "kind": "callout",
      "text": "After reporting a solid first quarter in April 2017, PPG reported a significant top-line miss in Q2, suggesting that management was completely distracted by the Akzo takeover attempts",
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      "kind": "chart",
      "text": "PPG Share Price: March 1-August 1, 2017",
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      "kind": "list",
      "text": "On March 8, 2017, PPG made an unsolicited offer to acquire Akzo Nobel (“Akzo”) for €83/share in cash. Over the next 3 months, PPG engaged in a series of aggressive takeover attempts. Management demonstrated lapses in judgment.",
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      "text": "Share Price: -6%",
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      "kind": "source-note",
      "text": "Source: Company press releases, news articles.",
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      "kind": "title",
      "text": "Management’s Decision to Attempt a Hostile Takeover Was Flawed",
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