{ "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": 184, "pageCount": 238, "prevPage": 183, "nextPage": 185, "slideType": "ceo_quote", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 6, "notes": "The slide uses CEO quotes to establish a baseline of management optimism that is likely contrasted in subsequent slides.", "elementsJson": [ "headline_text", "paragraph", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-e7508bf92a94/184", "deckHref": "/decks/019dd923-622c-750b-8b9c-e7508bf92a94", "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-e7508bf92a94.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-e7508bf92a94#slide-184", "components": [ { "bbox": { "h": 0.05, "w": 0.92, "x": 0.04, "y": 0.83 }, "kind": "callout", "text": "The Company seemed very confident in the financial and strategic merits of its Rockwood TiO2 acquisition.", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "632946f5-dfd7-4615-ac96-1ff235c8692e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.92, "x": 0.04, "y": 0.15 }, "kind": "paragraph", "text": "In the 12 months following the Rockwood TiO2 acquisition announcement, the Company repeatedly expressed strong confidence in the financial and strategic merits of the transaction.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "68257604-bb91-4697-a542-f430ad857677", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.21, "w": 0.92, "x": 0.04, "y": 0.44 }, "kind": "quote", "text": "I don't have the Rockwood acquisition up here, but, again, let me just say that I believe that that is an acquisition that is going to significantly create shareholder value... $575 on the TiO2 side, is the $130 million of synergy really possible...", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "13e69273-63a3-420a-8e44-1392db62da9a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.92, "x": 0.04, "y": 0.68 }, "kind": "quote", "text": "A few weeks ago we successfully completed the acquisition of Rockwood's performance additives and specialty titanium dioxide businesses... we feel stronger about this business than ever before.", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "38d99c0f-515b-430a-b724-770387496bb3", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.92, "x": 0.04, "y": 0.23 }, "kind": "quote", "text": "If we look at the acquisition, I don't think a great deal has changed on our outlook and our timing... $1.1 billion acquisition; $225 million of pension assumptions; and 5.5 times adjusted EBITDA...", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "66f1e03c-6731-4002-b225-4f8902ec354e", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"If we look at the acquisition, I don't think a great deal has changed on our outlook and our timing. We do obviously know more about what's going on with Rockwood. I think that if anything, we feel better about our numbers, we feel better about our synergies...\" — Peter Huntsman, President & CEO, December 2013; \"I don't have the Rockwood acquisition up here, but, again, let me just say that I believe that that is an acquisition that is going to significantly create shareholder value... I think it's a somewhat aggressive number, but I think there's probably room to do even better than that.\" — Peter Huntsman, President & CEO, March 2014; \"A few weeks ago we successfully completed the acquisition of Rockwood's performance additives and specialty titanium dioxide businesses. As we've now had an opportunity to visit all of our sites, associates, and many of our customers, we feel stronger about this business than ever before.\" — Peter Huntsman, President & CEO, October 2014", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-14db-7299-bdec-c01f374e7410", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.25, "x": 0.01, "y": 0.96 }, "kind": "source-note", "text": "Source: Public company filings and transcripts.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6a140346-c3b3-4a87-96ca-3682c77da6c7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.85, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "The Company Expressed Strong Confidence In Its Projections Regarding the Business", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "70092157-1a4c-4f60-abaf-cd43452619d6", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "ceo-quote-contradiction", "slug": null, "matchId": "e7da9cd9-083a-4c24-abc8-cf28cfae261b", "evidence": "Uses chronological quotes to set up a future contradiction.", "confidence": 0.9 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }