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  "documentTitle": "Altair US LLC | Activist Presentation Deck | 16 slides",
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  "authorName": "Altair US, LLC",
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  "presentationDate": "2022-09-01 00:00:00",
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  "notes": "The slide uses a numbered callout system (1, 2, 3) to map specific criticisms to points on a timeline chart.",
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      "kind": "callout",
      "text": "In our view, the Avalara Board should not be credited for re-engaging with Vista and accepting an offer price that was below Vista’s initial indication of interest",
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      "text": "Timeline chart showing negotiation bids from June to August 2022",
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      "text": "1. Avalara attempts to depict Party A as a genuine competitor... 2. In our view, the Board should have held firm... 3. Avalara’s Board seems to desire recognition for “heavily negotiating” a 3% price bump",
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      "kind": "source-note",
      "text": "Source: Avalara Definitive Proxy Statement... Id. at page 42...",
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      "kind": "title",
      "text": "In Our View, Avalara’s Board Did Not Negotiate “Heavily”; It Caved",
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