{
  "docId": "019dd923-622b-71dc-a6dc-16af66021cc8",
  "docSlug": "17d128ed7fca",
  "documentTitle": "Agrium (AGU)",
  "authorId": "13_JANA_Partners",
  "authorName": "Agrium",
  "documentKindSlug": "regulatory-filing",
  "documentKindLabel": "Regulatory filing",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2013-02-19 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 3,
  "pageCount": 10,
  "prevPage": 2,
  "nextPage": 4,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 18,
  "notes": "The slide uses a table to highlight shifting valuation figures across four different time periods, framing the activist's changing arguments as a 'switcheroo'.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "comparison_table"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6dc-16af66021cc8/3",
  "deckHref": "/decks/019dd923-622b-71dc-a6dc-16af66021cc8",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6dc-16af66021cc8.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-16af66021cc8#slide-3",
  "components": [
    {
      "bbox": {
        "h": 0.04,
        "w": 0.74,
        "x": 0.13,
        "y": 0.45
      },
      "kind": "callout",
      "text": "Despite its \"Switcheroo\", JANA's Ultimate Objective Remains a Break Up",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ffd390c9-ffcb-415f-84c1-452103808131",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Despite its “Switcheroo”, JANA’s Ultimate Objective Remains a Break Up",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-ee37-76cb-8470-f3d809e212c8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.9,
        "x": 0.05,
        "y": 0.53
      },
      "kind": "list",
      "text": "Chronological list of JANA's changing valuation claims and actions",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e1e3acca-2f2b-4c3c-a4ec-a67980e2b3db",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Theoretical Value Creation: $51",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-ee37-76cb-8470-f4c96dd6c13f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.33,
        "w": 0.74,
        "x": 0.13,
        "y": 0.14
      },
      "kind": "table",
      "text": "Table comparing JANA's valuation theories across four dates",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "381415d9-d220-433d-8b1c-e5a6fbcd6c5e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.45,
        "x": 0.13,
        "y": 0.08
      },
      "kind": "title",
      "text": "JANA's Value Creation Switcheroo",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e343a8a7-5073-470d-83d5-c6ce159e801d",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "breakup-spinoff",
      "slug": null,
      "matchId": "809af477-306d-463e-b261-59591d06e259",
      "evidence": "The slide discusses the activist's proposal to break up the company.",
      "confidence": 0.8
    }
  ],
  "arcBeats": [
    {
      "to": 3,
      "from": 3,
      "beatId": "ae451b3e-d934-4023-98f6-24bea810cd55",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Problem",
      "beatSlug": "problem-agitate-solution-problem-identify-pain",
      "evidence": "JANA's Value Creation Switcheroo",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Complication",
      "parentBeatSlug": "complication"
    }
  ],
  "loops": [
    {
      "to": 3,
      "from": 3,
      "name": "Aha Moment",
      "slug": "03-aha-moment",
      "bestFor": "Data-heavy sections, research findings, analytical arguments",
      "matchId": "63d21f65-2702-4a78-8d53-c8f4fb3edb18",
      "evidence": "JANA's Value Creation Switcheroo",
      "position": 0,
      "objective": "Highlight the contradiction in JANA's valuation",
      "structure": "The Problem/Question -> What the Data Shows -> The Insight",
      "confidence": 0.7,
      "description": "Establish a tension, present data, then deliver the insight that changes everything"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}