Citi | Investment Banking Pitch Book | 17 slides

Citi · 2019-11
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

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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 slide presents a valuation analysis comparing a $32.00 offer price against various benchmarks including share price history, equity/firm value, and P/B, P/Panalyze_data
Open slide detailBeat · Situation & ContextLoop · Logic Chain
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summarize
Open slide detailBeat · Situation & ContextLoop · Logic Chain
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The slide uses a football field chart to visualize valuation ranges across multiple methodologies including Selected Companies Analysis, Discounted Dividends, Tquantify_impact
Open slide detailBeat · Situation & ContextLoop · Logic Chain
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transition
Open slide detailBeat · Evidence & ProofLoop · Logic Chain
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The slide uses a dual-line chart approach to compare company projections (dark blue) with consensus estimates (light blue) across four key financial metrics.analyze_data
Open slide detailBeat · Evidence & ProofLoop · Logic Chain
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Includes both a peer group table and a valuation methodology table with implied ranges.compare_peers
Open slide detailBeat · Evidence & ProofLoop · Logic Chain
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Includes sensitivity analysis for both Cost of Equity vs Terminal Multiple and Cost of Equity vs Target Leverage.analyze_data
Open slide detailBeat · Evidence & ProofLoop · Logic Chain
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Includes detailed footnotes explaining the methodology for calculating unlevered asset beta and target capital structure.analyze_data
Open slide detailBeat · Evidence & Proof
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transition
Open slide detailBeat · Impact & Next Steps
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Includes 52-week high/low markers and a VWAP reference line.analyze_data
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
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Includes annotations for major macroeconomic events (Brexit, US Election, etc.) and a data table summary.compare_peers
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
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The chart includes a legend and a table of trailing averages for the three entities.compare_peers
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
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The slide provides a snapshot of analyst sentiment and valuation benchmarks relative to an unaffected share price of $23.86.analyze_data
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
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Includes friendly transactions involving a US target with an equity value of $1.0-$3.0 billion. Excludes hostile transactions.cite_precedent
Open slide detailBeat · Impact & Next Steps
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The slide compares book value metrics against appraisal-based market value metrics for two specific dates (9/30/19 and 6/30/19).analyze_data
Open slide detailBeat · Impact & Next Steps