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  "documentTitle": "Amcor plc (pro forma Amcor-Berry Global combination) (AMCR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-03-10 00:00:00",
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  "notes": "The slide uses a 'Dividend Cushion' calculation to argue that the company's current dividend is unsustainable.",
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      "text": "Dividend Cushion (Deficit): ($72.0)",
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      "text": "(1) Expectations based on review of 7 broker estimates by Spruce Point. Estimates have been calendarized for Dec 31st year end period.",
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      "text": "Comparison of Market Implied Expectations vs Spruce Point Downside Case for Cash Flow and Dividend sustainability.",
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