{
  "docId": "019dd923-622c-750b-8b9b-9646c0061f4f",
  "docSlug": "002774f67694",
  "documentTitle": "Valeant Pharmaceuticals International (VRX)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-05-04 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 6,
  "pageCount": 47,
  "prevPage": 5,
  "nextPage": 7,
  "slideType": "before_after",
  "function": "illustrate_case",
  "density": "overcrowded",
  "nDataPoints": 5,
  "notes": "The chart uses callout boxes to correlate specific acquisition announcements with share price movements.",
  "elementsJson": [
    "headline_text",
    "line_chart",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-9646c0061f4f/6",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-9646c0061f4f",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-9646c0061f4f.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-9646c0061f4f#slide-6",
  "components": [
    {
      "bbox": {
        "h": 0.12,
        "w": 0.15,
        "x": 0.15,
        "y": 0.49
      },
      "kind": "callout",
      "text": "5/16/2013: Began trading near cash NAV",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "22ac9bba-9e2b-4be0-a51d-145b3b75e636",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.15,
        "x": 0.58,
        "y": 0.52
      },
      "kind": "callout",
      "text": "8/6/14: Announced acquisition of Agriphar SA for €300m TEV",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4ab58753-ffed-443a-ac97-672836e728c6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.15,
        "x": 0.3,
        "y": 0.345
      },
      "kind": "callout",
      "text": "10/10/13: Announced acquisition of MacDermid for $1.8bn TEV",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "82471eaf-9147-4c2b-a6e7-22e23e12b11a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.15,
        "x": 0.42,
        "y": 0.63
      },
      "kind": "callout",
      "text": "4/17/14: Announced acquisition of Chemtura AgroSolutions for $1.0bn TEV",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8c314767-426e-4a60-b00e-d1b1fe67e68e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.15,
        "x": 0.75,
        "y": 0.52
      },
      "kind": "callout",
      "text": "10/20/14: Announced acquisition of Arysta LifeScience for $3.5bn TEV",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c915822e-f440-46ac-8060-a5602f4c76aa",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.84,
        "x": 0.08,
        "y": 0.28
      },
      "kind": "chart",
      "text": "PAH Share Price over time",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "71c8a7b9-cf49-4c76-8d65-ad1a6a9bdc2b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "share price return: 175%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-70f3-714d-84c8-48087f198894",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.1,
        "x": 0.09,
        "y": 0.89
      },
      "kind": "source-note",
      "text": "Source: Bloomberg.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8bc4f3ef-d4d6-4637-9add-be16db9acfd9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.84,
        "x": 0.08,
        "y": 0.13
      },
      "kind": "title",
      "text": "Platform Specialty: ~175% Return in Two Years",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d4179dc3-a2a1-43b2-95f5-d35b0d641f4a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.84,
        "x": 0.08,
        "y": 0.23
      },
      "kind": "title",
      "text": "PAH Share Price from 5/16/2013 to 5/1/2015",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "711883be-ba79-4609-b584-74077b5865fa",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Before-After-Bridge",
      "slug": "before-after-bridge",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "8b97328f-afc9-4f9f-b445-ea4f9f6cbcd1",
      "evidence": "Platform Specialty achieved a ~175% return over two years, driven by a series of strategic acquisitions.",
      "confidence": 0.7
    }
  ],
  "frameworks": [
    {
      "name": "before-after-framing",
      "slug": null,
      "matchId": "05e77a06-a422-4b6d-bb2e-9ed77ba6bff9",
      "evidence": "Shows the growth of share price over a specific two-year period linked to strategic events.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}