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  "docSlug": "e32b71332b7f",
  "documentTitle": "The Timken Company (TKR)",
  "authorId": "17_Relational_Investors",
  "authorName": "CalSTRS",
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  "presentationDate": "2013-03-01 00:00:00",
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      "kind": "callout",
      "text": "Valuation increase is permanent and stock price compounds from a higher level",
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      "text": "Publicly traded spin-offs have outperformed the S&P 500 by 223% since 2003\nValuation increase is permanent and stock price compounds from a higher level\nImproved management focus and drive to maximize the value of each business independently will lead to improved operating results",
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      "text": "1 See slide 34 for support.",
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      "text": "Relational and CalSTRS' Response",
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      "text": "Timken: Wrong on Valuation\nIncrease from Separation is Temporary",
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      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
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