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  "documentTitle": "Arconic Inc. (ARNC)",
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  "authorName": "Elliott",
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  "notes": "This slide establishes the activist's credibility and thesis.",
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      "text": "Our conclusion from our analysis is clear: Arconic’s assets are dramatically undervalued and managerial change is needed to unlock the Company’s full potential for the benefit of all stakeholders",
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      "text": "economic ownership: 13.2%",
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      "text": "Elliott is an investment firm founded in 1977 that today manages approximately $33 billion of capital for both institutional and individual investors. Elliott’s staff of over 400 employees combine a culture of thoroughness, hard work and creativity, with a focus on long-term value creation",
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      "text": "Elliott Is a Long-Term Investor in Arconic\nWe have a 13.2% economic ownership in Arconic, valued at over $1.6 billion. Our commitment to Arconic is demonstrated by the substantial investment we have made in the Company",
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      "text": "Elliott’s Research and Perspectives on Arconic\nOver the last two years, Elliott has performed exhaustive research on the prospects, competitive positioning and valuation of Arconic, a process which included spending tens of millions of dollars, enlisting legal counsel, external consultants and investment banks to advise us, as well as speaking with customers, opinion leaders, engineers, metallurgists, competitors, former employees, senior executives within the various industries that the Company competes, sell-side analysts, corporate governance experts and other investors",
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      "text": "About Elliott Management",
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