{
  "docId": "019dd923-622c-750b-8b9c-e7508bf92a94",
  "docSlug": "84e240d51920",
  "documentTitle": "Huntsman Corporation (HUN)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2022-02-28 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 103,
  "pageCount": 238,
  "prevPage": 102,
  "nextPage": 104,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 3,
  "notes": "Uses red dashed boxes to highlight Mr. Ferrari's presence in all three entities.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "headshot",
    "process_diagram"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-e7508bf92a94/103",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-e7508bf92a94",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-e7508bf92a94.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-e7508bf92a94#slide-103",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.3,
        "x": 0.35,
        "y": 0.35
      },
      "kind": "callout",
      "text": "$140 million purchase price (<15% of $1 billion goal)",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a18e0b2d-43c0-4b58-827a-e3c5499781f2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.2,
        "x": 0.75,
        "y": 0.3
      },
      "kind": "callout",
      "text": "Mr. Ferrari joined SK Capital shortly after SK Capital recorded >$100 million in unrealized gains from its acquisition of Huntsman’s Venator stake!",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b7063703-7165-45a5-8b1a-44e06fb48ded",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "We are concerned that Mr. Ferrari’s various roles at Venator, Huntsman, and SK Capital result in significant conflicts of interest.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-14db-7299-bde4-46a4a7cd2912",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.9,
        "x": 0.05,
        "y": 0.25
      },
      "kind": "image",
      "text": "Diagram showing Huntsman, SK Capital, and Venator with headshots of Mr. Huntsman, Sir Margetts, and Mr. Ferrari.",
      "attrs": null,
      "subkind": "infographic",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "19cd9377-afea-4651-8615-1b78ff59d66d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.85
      },
      "kind": "paragraph",
      "text": "We are concerned that Mr. Ferrari’s various roles at Venator, Huntsman, and SK Capital result in significant conflicts of interest.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "386be35a-591c-4c4c-bfa9-db6d0aefac95",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.15
      },
      "kind": "paragraph",
      "text": "Not only was Mr. Ferrari a director of both Venator and Huntsman, but Mr. Ferrari also joined SK Capital shortly after SK Capital recorded unrealized gains of ~$100 million from its acquisition of Huntsman’s Venator stake.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d5f1eaaa-69b0-4b4a-a14f-49ce65a5ac3c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: Public company filings and press releases, SK Capital website, CapitalIQ.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c1b59be4-e2e2-4532-be78-0c8625ccaabd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.05,
        "y": 0.03
      },
      "kind": "title",
      "text": "... But Mr. Ferrari Appears To Have Been On All Sides of Huntsman’s Sale of Its Venator Stake to SK Capital",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9708e170-47e3-4031-a6bd-e2e180ed778d",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "antagonist-introduction",
      "slug": null,
      "matchId": "e53d4d43-2fad-4676-b9e4-47340f63cfee",
      "evidence": "Highlights Mr. Ferrari's conflicting roles across three entities to frame him as the antagonist in the transaction.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}