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  "documentTitle": "Saputo Inc. (TSX:SAP)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2022-11-29 00:00:00",
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  "notes": "The slide highlights a specific discrepancy in debt reporting that impacts the calculated Enterprise Value.",
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      "kind": "callout",
      "text": "Spruce Point believes that current market data services fail to account for Saputo's growing $724 million unfunded U.K. debt obligation.",
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      "text": "Enterprise Value: $18,928",
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      "text": "Source: Saputo and Spruce Point Analysis",
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      "text": "We Believe Market Data Providers Under-Report Liabilities",
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      "text": "Spruce Point Adjusted Pro Forma Saputo Capital Structure",
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      "kind": "title",
      "text": "The Market Mismodels Saputo's Capital Structure",
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