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  "documentTitle": "Pershing Square | Activist Presentation Deck | 120 slides",
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      "kind": "list",
      "text": "Allergan could delay the company's 2015 AGM beyond next May.",
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      "text": "The special meeting provides shareholders an important opportunity to: Create a path to completion of a compelling offer. Rectify onerous bylaw and charter provisions that disenfranchise shareholders.",
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      "text": "In the meantime, we believe there is significant risk to shareholder value at Allergan. Valeant may be forced or choose to abandon the transaction. Allergan's board could take value-destructive actions to thwart the Valeant offer.",
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      "text": "The existence of a poison pill makes it impossible for shareholders to take advantage of Valeant's exchange offer for Allergan shares. Without a special meeting, Allergan's board could disenfranchise shareholders on this transaction until the company's next AGM.",
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      "text": "Why a Special Meeting is Necessary to Protect Shareholder Rights",
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