There is a Better Way Vote “AGAINST” Management’s Spin-Out Proposal
Executive Summary
Elliott's Approach to ACAS
Elliott has conducted extensive research, including with the help of external advisors, to understand the opportunity
at American Capital
Elliott In-House
Investment and
Research Team
Institutional Investors
and
Analysts
External Advisors and
Industry Experts
Legal and
Tax Counsel
Due Diligence Process
▪ Deep financial valuation and trading capability
▪ Collaboration between investment teams with expertise in public and private credit,
RMBS, private equity and activist investing
▪ Extensive evaluation of ACAS portfolio and strategic alternatives
▪ Active relationships with leading Wall Street research analysts
▪ Due diligence with key institutional and hedge fund investors
▪ Retained an industry-leading investment bank specializing in financial services
▪ Consulted with numerous industry experts with decades of experience
▪ Retained consultants specializing in related business issues
▪ Retained renowned accounting firm
Corporate/regulatory counsel from top tier full service law firms
▪ Counsel specializing in '40 Act (fund) matters
■
Experienced tax counsel
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