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Elliott Management vs. Texas Instruments

Texas Instruments · TXN

1 deck published between 2024-05-28 and 2024-05-28 — 13 pages, 13 analysed slides total.

initial thesis

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2024-05-28 initial thesis

    Elliotts Letter to the Board of Texas Instruments

    13pp · letter

    TI's rigid $5bn/year capex ramp is building ~50% excess capacity and has collapsed FCF per share 75%; flex capex to demand and commit to $9.00+ per share by 2026.