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  "documentTitle": "Icahn Southwest Gas Presentation November 2021",
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  "presentationDate": "2021-11-01 00:00:00",
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  "pageNumber": 16,
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  "notes": "The slide uses a list-based structure to contrast the activist's constructive proposals against the company's defensive actions (poison pill, rejection).",
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      "kind": "callout",
      "text": "WE HAVE OFFERED MULTIPLE SHAREHOLDER-FRIENDLY OPTIONS AND RECEIVED MINIMAL COMMUNICATION FROM THE COMPANY.",
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      "kind": "list",
      "text": "Proposal #1: If SWX must issue equity, issue to your existing shareholders through a rights-offering. We offered to backstop this at no cost... SWX has not responded (besides implementing a poison pill)",
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      "text": "Proposal #2: IEP launches tender offer for ANY AND ALL shares at $75 per share. Offers shareholders a premium... SWX rejected as insufficient and illusory...",
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      "text": "Proposal #3: IEP offers to fund 100% of deal-related equity needs at $75 per share. We also offered to cap voting rights at 20%. SWX has not responded",
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      "kind": "title",
      "text": "Our Financing Proposals",
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