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  "documentTitle": "Elliott Management | Activist Presentation Deck | 39 slides",
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  "authorName": "Elliott Management",
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  "notes": "Uses a 'death by a thousand cuts' metaphor to describe management's divestment strategy.",
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      "text": "Management's apparent 'strategy' of piecemeal sales... might be better characterized as the commercial equivalent of 'death by a thousand cuts'",
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      "text": "We offer as an example management's ill-fated decision to divest 44,000 net acres... BHP suffered a loss of 86% when compared to the value that management could have subsequently realized",
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      "text": "The team has done a terrific job trading assets along the way.",
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      "text": "(1) Source: Industry data (2) Source: PLS Global M&A Database",
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      "text": "Worrying signs of value destruction appear to demonstrate a flawed approach to recent US onshore acreage trading",
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      "text": "Current BHP Management Have yet to Acknowledge that They Are Not the Right Custodians of the US Onshore Assets",
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