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  "documentTitle": "TransCanada Corp (TRP)",
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  "authorName": "Thomas Sandell",
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  "presentationDate": "2014-11-01 00:00:00",
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  "notes": "The slide uses a structural decomposition to argue for a corporate breakup or restructuring to unlock value.",
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      "text": "Steps Will Unlock Intrinsic Value for TRP Shareholders To $75/Share",
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      "text": "Source: Company filings, Internal Work, $1.1/US$1.0, (1) rounded, Sandell figures exclude TCP and include $55m in dis-synergies plus Bruce Power D&A; (2) assumes 4.5% distribution yield, 10% maintenance capital/EBITDA, 1.2x coverage ratio, 50% IDR splits and 25x IDR valuation; (3) 18.2x 2014 EBITDA valuation less debt and other liabilities, 709m s/o.; (4) 8.6x 2014 EBITDA valuation less $5.7bn debt",
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      "text": "Steps Will Target Right Shareholder Bases To Un-TRP Shareholder Value",
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      "text": "TransCanada Corp: Un-TRPing Shareholder Value",
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