{
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  "docSlug": "b11f53a9759d",
  "documentTitle": "ADT Corporation (ADT)",
  "authorId": "11_Corvex",
  "authorName": "Keith Meister",
  "documentKindSlug": "conference-presentation",
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  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2012-10-24 00:00:00",
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  "pageNumber": 5,
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      "kind": "callout",
      "text": "Maintaining current capital structure is indefensible",
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      "kind": "list",
      "text": "Unique franchise asset; Defensive, predictable business model; Strong financial profile with stable, consistent cash flows; Unappreciated secular growth tailwinds; The right asset for today's economic and interest rate environment; Massive balance sheet optionality",
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      "kind": "list",
      "text": "Ability to increase leverage and improve capital allocation; Equity shrink story waiting to happen; Accelerate growth (organically or inorganically); Attractive returns on invested capital",
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      "text": "Investment Thesis",
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      "name": "Cost Of Inaction",
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