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  "docSlug": "4efa0d9df4944d7c7d4d31a5a9f25881",
  "documentTitle": "Icahn Enterprises | Activist Presentation Deck | 44 slides",
  "authorId": "icahn-enterprises",
  "authorName": "Icahn Capital LP and Deason Capital Services, LLC",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2018-04-01 00:00:00",
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  "pageNumber": 8,
  "pageCount": 44,
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  "slideType": "peer_benchmark",
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  "density": "dense",
  "nDataPoints": 25,
  "notes": "Includes a line chart with annotations for key corporate events (Icahn stake, spin-off announcement, spin-off completion).",
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  "slideHref": "/slides/019de06f-98bc-706e-9c0c-e01708fefbea/8",
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      "kind": "callout",
      "text": "Despite announcing a deal that ostensibly provides a control premium, the closing price of Xerox stock on April 13, 2018 was $28.17 per share – that's ~14% below the closing price on the day prior to the announcement and ~37% below management's purported deal value of $45.00 per share",
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      "kind": "callout",
      "text": "The primary reason Xerox's stock price increased at all in the recent past is due to the Conduent spin-off, which was completed at Icahn's urging",
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      "kind": "callout",
      "text": "Post Conduent spin, Xerox's stock has regressed to underperforming the market and its peers",
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      "text": "Five Year Total Shareholder Return line chart showing Xerox, S&P 500, and Peer Group performance from 2013 to 2018.",
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      "kind": "source-note",
      "text": "Source: Capital IQ data as of 4/13/2018. 1) Group is equal-weighted and consists of Canon, Hewlett-Packard, Konica Minolta and Ricoh. 2) Represents mean value for peer group. 3) Since 12/31/2016",
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      "text": "Total Shareholder Return table comparing Xerox, S&P 500, and Peer Group across various timeframes.",
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