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  "documentTitle": "Pershing Square | Activist Presentation Deck | 120 slides",
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  "authorName": "Pershing Square Capital Management, L.P.",
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  "notes": "Uses survey data to validate the offer price against investor sentiment.",
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      "kind": "diagram",
      "text": "Investor View of Value - J.P. Morgan Survey (1) Combined Company Stock Price Implied Offer Value $140 $188 $180 $221",
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      "text": "Based on the surveyed investors' expected value of the combined company, Valeant's current offer is worth $188-$221",
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      "text": "J. P. Morgan's May 16th – May 20th survey suggests investors are seeking a $160 to $200 per share acquisition price: Following Allergan's May 12th revised long-term plan announcement, J.P. Morgan conducted a survey of 123 Allergan investors ~77% of those surveyed believe an offer of $160-$200 per share will be sufficient",
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      "text": "We Believe the Current Offer Meets Investors' \"Asking Price\"",
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