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  "documentTitle": "Forescout Technologies (FSCT)",
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  "authorName": "Ben Axler",
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  "notes": "Uses a timeline-based argument to expose a contradiction in the board's disclosure process.",
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      "text": "If they were indeed never made aware of the (4) \"Illustrative Guidance,\" by how much more might have the prospective buyers revised their offers downwards had this guide been disclosed?",
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      "text": "If they were indeed never made aware of the (4) “Illustrative Guidance,” by how much more might have the prospective buyers revised their offers downwards had this guide been disclosed?",
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      "text": "Jan 27: (3) Alternative Plan ONLY is provided to buyers, NOT (4) Illustrative Guidance",
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      "text": "Feb 3: Both remaining prospective buyers revise offers downward in response to (3) Alternative Plan",
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      "text": "Jan 31: Buyers require time to review (3) Alternative Plan",
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      "text": "Also on January 31, 2019, representatives of each of Advent and Financial C separately informed Morgan Stanley that they required more time to make their final proposal...",
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      "text": "Including its \"bottoms-up\" nature... Morgan Stanley subsequently provided this information.",
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      "text": "Given the details provided in the acquisition timeline, it seems reasonable to believe that the (2) \"Preliminary Alternative Plan\" was indeed never provided to prospective acquirers...",
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      "text": "On February 3, 2020, the Strategic Committee met... Later on February 3, 2020, Advent provided a revised proposal to acquire Forescout for $32.00 per share...",
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      "text": "If The \"Alternative Plan\" Elicited Revised Offers, What Would Disclosing Guidance Have Done?",
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