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  "documentTitle": "Blackwells Capital | Activist Presentation Deck | 115 slides",
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  "notes": "Uses SEC regulatory text to frame a potential legal/ethical contradiction regarding ValueAct's independence.",
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      "text": "Notice of Exempt Solicitation document snippet",
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      "text": "An exempt solicitation is... (1) Any solicitation by or on behalf of any person who does not... (ix) Any person who, because of a substantial interest in the subject matter of the solicitation, is likely to receive a benefit...",
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      "text": "Source: Regulations 14a-6(g); 14a-2(b)(1)(ix); 14a-101 of the Securities Exchange Act of 1934, as amended.",
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      "text": "Should shareholders consider the almost $100 million dollars paid by Disney to ValueAct as motivation for ValueAct to have endorsed the Disney Board in the midst of a 3-way proxy battle?",
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      "kind": "title",
      "text": "SHOULD VALUEACT BE CONSIDERED A “PARTICIPANT” IN THIS SOLICITATION UNDER SEC RULES?",
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