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  "documentTitle": "Pershing Square | Activist Presentation Deck | 45 slides",
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  "authorName": "Pershing Square Capital Management",
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      "text": "In Feb. 2012, P&G announced a $10bn cost reduction plan to be completed fully by FYE June 2016. This plan consisted of:",
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      "text": "$6bn of Productivity Savings through COGS reduction\n$1bn of Overhead Savings\n$1bn of Marketing Efficiencies\n$2bn Operating leverage, assuming ~5% organic growth",
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      "text": "Company Recognizes Enormous Cost Opportunity",
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