{
  "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": 7,
  "pageCount": 47,
  "prevPage": 6,
  "nextPage": 8,
  "slideType": "key_messages",
  "function": "establish_context",
  "density": "overcrowded",
  "nDataPoints": 3,
  "notes": null,
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-9646c0061f4f/7",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-9646c0061f4f",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-9646c0061f4f.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-9646c0061f4f#slide-7",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.82,
        "x": 0.09,
        "y": 0.72
      },
      "kind": "callout",
      "text": "Nomad has called Iglo its “anchor investment”(2), and intends to use this asset as a base for future food industry acquisitions",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "671a291a-8c43-4f5d-ac5a-40b928122249",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.75,
        "x": 0.11,
        "y": 0.58
      },
      "kind": "list",
      "text": "Nomad is financing its acquisition of Iglo with cash on hand from its IPO, debt financing, and a $750mm private placement of equity",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0bed75c8-2175-4386-a6fb-d68955294c36",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.09,
        "w": 0.75,
        "x": 0.11,
        "y": 0.44
      },
      "kind": "list",
      "text": "In April 2015, Nomad announced the acquisition of Iglo Foods Holdings, the largest frozen foods business in Europe, for approximately €2.6 billion from private equity owner Permira",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7be105ac-b65e-4cb5-bdb7-3e88eb389367",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.75,
        "x": 0.11,
        "y": 0.22
      },
      "kind": "list",
      "text": "Martin Franklin and Noam Gottesman, co-founder of GLG Partners, co-founded Nomad in early 2014",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7cc69ad8-87eb-44f4-80cb-41cd38459566",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.75,
        "x": 0.11,
        "y": 0.33
      },
      "kind": "list",
      "text": "In April 2014, Nomad raised $500mm(1) in a public offering and began trading at a valuation approximating its cash per share",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ae34cff1-4d3f-40e8-a6bd-5ab2999d4646",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.65,
        "x": 0.09,
        "y": 0.87
      },
      "kind": "source-note",
      "text": "(1) Includes $485mm in ordinary shares (with matching warrants) and $15mm in founder preferred shares. (2) Source: http://www.reuters.com/article/2015/04/20/us-iglo-m-a-nomad-foods-idUSKBN0NB1C520150420.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2d133a92-8771-47e8-8cd7-c45cb20b94a0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.45,
        "x": 0.08,
        "y": 0.13
      },
      "kind": "title",
      "text": "Nomad Holdings Limited (NOMHF) (\"Nomad\")",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c6055426-ff76-4848-8728-60651a774ee0",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}