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  "documentTitle": "Forescout Technologies (FSCT)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2020-05-13 00:00:00",
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  "notes": "Includes a bridge-like logic showing how different sales multiples and pandemic adjustments lead to lower implied share prices.",
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      "kind": "callout",
      "text": "Revaluation Deal EV / Sales Multiple (4.7x) on FY20E Sales According to Illustrative Guidance",
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      "text": "Advent likely paid close to 20% above what it would have intended to pay had it (A) had access to management's Illustrative Guidance and (B) waited just several weeks to observe the effect of the pandemic on the economy.",
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      "text": "On the basis of the (3) Alternative Plan... Advent is paying 4.7x FY20E sales... reducing the deal price... would put FSCT shares at $30.39... or 8% below the current deal price.",
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      "text": "1. Based on share count, RSU and PSU count, option count, and weighted-average option strike price as of 10-K (Feb 14), the latest date for which all info is available",
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      "text": "Reassessing Valuation In Light Of New Forecasts And Effect Of Pandemic",
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