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  "documentTitle": "Elliott Management | Activist Presentation Deck | 39 slides",
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  "authorName": "Elliott Management",
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  "presentationDate": "2017-05-01 00:00:00",
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  "notes": "The slide uses a bulleted list to break down the $46bn total into three specific components.",
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      "text": "Demerger of the US petroleum business (+ US$15bn)\nCapital Return – accretion from enhanced capital management (+ US$20bn)\nFranking Credits – optimizing the value to shareholders of BHP’s significant balance of stranded franking credits via the unification of its legacy DLC structure (+ US$11bn)",
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      "text": "The alternative – maintaining current management’s existing strategy of no change to BHP’s structure, portfolio or approach to capital allocation – will not rectify BHP’s chronic underperformance",
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      "text": "On April 10, 2017, we presented public thoughts on a number of inefficiencies which we believe have impaired optimum value for BHP’s first-class portfolio of assets. Our Value Unlock Plan, as presented, was put forward as a pathway to unlock significant value for shareholders – US$46bn in total across the following key elements:",
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      "text": "Reaffirming the Clear Value Enhancement Opportunity",
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