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  "documentTitle": "Yahoo! Inc. (YHOO)",
  "authorId": "18_SpringOwl",
  "authorName": "SpringOwl Asset Management LLC",
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  "presentationDate": "2015-12-01 00:00:00",
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  "notes": "This is a classic activist investor rebuttal slide, framing the opponent's proposal as a 'fire sale' and positioning the author's plan as the superior alternative.",
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      "text": "Our plan will deliver at least an additional $30/share of value to all Yahoo shareholders",
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      "text": "We Disagree With Starboard’s Suggestion Because: We don't think their “sell at the lows” argument will be compelling; Yahoo's stock didn't increase; Starboard's credibility weakened; We disagree with $370-$500M savings; Our plan delivers $30/share.",
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      "text": "What Needs to Happen Now? The right turnaround plan and the right partner to help unlock the full value of Yahoo; A turnaround for public shareholders, not a fire sale.",
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      "text": "Starboard – a Yahoo shareholder – on Nov. 19/15 argued that Yahoo not spin off the Alibaba stake but instead sell the core business",
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      "text": "Source: 1. http://www.starboardvalue.com/publications/Starboard_Value_LP_Letter_to_YHOO_08.10.15.pdf 2. http://www.starboardvalue.com/publications/Starboard_Value_LP_Letter_to_YHOO_11.19.15.pdf",
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      "text": "Starboard’s “Sell At the Lows” Plan Isn’t Attractive",
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