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  "documentTitle": "Bunge Global SA (BG)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2026-03-25 00:00:00",
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  "notes": "The slide uses color-coded highlighting (green for peer disclosures, red for Bunge's lack of disclosure) to emphasize the contrast.",
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      "text": "Spruce Point believes it is customary for large and global U.S. public financial reporting peers to disclose how much cash and equivalents are held outside of the U.S. in foreign subsidiaries or permanently invested abroad.",
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      "text": "Spruce Point believes it is customary for large and global U.S. public financial reporting peers to disclose how much cash and equivalents are held outside of the U.S. in foreign subsidiaries or permanently invested abroad. In fact, Bunge’s agribusiness peers provide these essential disclosures. On the other hand, Bunge fails to provide this crucial information and cannot even estimate the tax effect if it were to repatriate foreign earnings.",
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      "text": "Source: Company annual reports",
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      "text": "Comparison of cash disclosures between Ingredion, Nutrien, ADM, and Bunge.",
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      "text": "We Believe Bunge’s Cash Reporting Is A Black Box And Deficient Relative To Industry Peers",
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