Goldman Sachs | Investment Banking Pitch Book | 20 slides

Goldman Sachs · 2018-09
arc beats above · slides in the middle · loops below · scroll → 2 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 1
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Slide inventory

20
every slide · same image gating as the playbook
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Slide 1
front_matter
Open slide detailBeat · Situation & Context
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front_matter
Open slide detailBeat · Situation & Context
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The table uses checkmarks to indicate agreement status across GP, Series B, AR S.C., and AM S.C. stakeholders.summarize
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
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The table tracks the evolution of exchange ratios and cash components for multiple proposals, highlighting the accepted offer.summarize
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
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The slide compares valuation outcomes for two different offers (GP vs Midstream) across four perspectives (Midstream, Upstream, GP, Series B).compare_options
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
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Illustrative $10bn Equity Value Before Cash Pool. Includes deal terms details in a callout box.quantify_impact
Open slide detailBeat · Evidence & ProofLoop · Logic Chain
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The slide uses a bar-chart-like visual representation to display numerical components of a financial offer.analyze_data
Open slide detailBeat · Evidence & ProofLoop · Logic Chain
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The slide compares the value of two different offers (Current GP Offer vs Current Midstream Offer) from four perspectives (Midstream, Upstream, GP, Series B).compare_options
Open slide detailBeat · Evidence & Proof
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The slide compares absolute and indexed stock prices for two sectors (Midstream and GP) against the AMZ index. Includes a specific beta metric for Midstream.analyze_data
Open slide detailBeat · Evidence & Proof
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The table compares different exchange ratios (1.734x to 1.850x) against historical market reference points (Last Close, 30-Day VWAP, etc.).analyze_data
Open slide detailBeat · Evidence & Proof
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The slide compares 'Absolute' vs 'AMZ Indexed' exchange ratios for two different stakeholder perspectives.analyze_data
Open slide detailBeat · Evidence & Proof
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Includes footnotes explaining calculation methodologies for exchange ratios and market cap averages.analyze_data
Open slide detailBeat · Impact & Next StepsLoop · Iceberg
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Includes specific tax on gain data and breakeven coverage ratios compared to status quo.analyze_data
Open slide detailBeat · Impact & Next StepsLoop · Iceberg
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The slide presents a 'Give-Gets' analysis, a standard investment banking valuation tool for M&A transactions.analyze_data
Open slide detailBeat · Impact & Next StepsLoop · Iceberg
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The chart includes a trend line projection from a previous peak to the current date.analyze_data
Open slide detailBeat · Impact & Next StepsLoop · Iceberg
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Includes specific PV10 tax savings and step-up values in callouts.analyze_data
Open slide detailBeat · Impact & Next Steps
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The chart shows a consistent increase in leverage ratios when moving from Status Quo to the Pro Forma scenarios.quantify_impact
Open slide detailBeat · Impact & Next Steps
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appendix
Open slide detailBeat · Solution & Approach
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The slide presents two main calculation blocks: Equity Value and Yield, comparing current market data against indexed values from 26-Jan.analyze_data
Open slide detailBeat · Solution & Approach
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The table includes three categories: Parent to LP Merger, LP Buy-In, and Pending Publicity Announced LP Buy Ins.cite_precedent
Open slide detailBeat · Solution & Approach