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  "documentTitle": "Icahn Enterprises | Activist Presentation Deck | 20 slides",
  "authorId": "icahn-enterprises",
  "authorName": "Icahn Capital",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2018-11-01 00:00:00",
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  "pageNumber": 7,
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  "notes": "The slide uses a strong call-to-action box at the bottom to summarize the activist's stance.",
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      "kind": "callout",
      "text": "Due to these and other reasons described herein, VOTE AGAINST Michael Dell and Silver Lake's self-serving buyout offer.",
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      "text": "On July 2, 2018 Dell Technologies announced a merger agreement to repurchase all public Class V Common stock. We believe the transaction is an opportunistic scheme to transfer ~$11 billion of value. The offer price of $109 is closer to $90, a 42% discount to the $154 market value. IPO threats are scare tactics. Michael Dell and Silver Lake are in a 'rock and a hard place' with an unsustainable capital structure. The only viable paths are a better offer or voting the transaction down.",
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      "text": "1. Based on DVMT and VMware closing prices on October 23, 2018... 2. Implied value per share calculation on page 6. 3. Based on the closing price of VMware as of November 8, 2018...",
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