{
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  "docSlug": "88fbd476df97c58da6c0e003e51010be",
  "documentTitle": "Yahoo | Mergers and Acquisitions Presentation Deck | 6 slides",
  "authorId": "yahoo",
  "authorName": "Yahoo",
  "documentKindSlug": "activist-deck",
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  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2008-07-01 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 6,
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  "slideType": "preempt_rebuttal",
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  "nDataPoints": 4,
  "notes": "This slide is a classic example of a 'preempt_rebuttal' or 'villain_critique' slide used in activist defense to dismantle a bidder's valuation claims.",
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  "slideHref": "/slides/019de50e-81e0-717f-98c3-881d1aea1e8a/6",
  "deckHref": "/decks/019de50e-81e0-717f-98c3-881d1aea1e8a",
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      "kind": "list",
      "text": "Summary Considerations: Only per share cash dividend is certain... Yahoo! believes valuation of spin-off is unrealistic... Substantial execution risk... Regulatory approval risks...",
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      "kind": "table",
      "text": "Summary of Value Components: Asian spin-off $9.00, Special Cash Dividend $4.50, Yahoo! shares $19.50, Total $33.00",
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      "kind": "title",
      "text": "Yahoo! Does Not Believe Microsoft / Icahn Proposal Provides $33 of Value",
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      "evidence": "The slide systematically lists the components of a proposal and then provides a list of reasons why those components are flawed or risky.",
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      "evidence": "The final slide concludes that the proposal does not provide $33 of value, urging action.",
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      "name": "Cost Of Inaction",
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      "evidence": "The presentation implies that accepting the proposal would be costly for Yahoo shareholders.",
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