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  "documentTitle": "Goldman Sachs | Investment Banking Pitch Book | 20 slides",
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  "authorName": "Goldman Sachs",
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  "presentationDate": "2012-10-01 00:00:00",
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  "notes": "Goldman Sachs investment banking slide detailing a dual-track process.",
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      "kind": "disclaimer",
      "text": "PRELIMINARY CONFIDENTIAL DRAFT - SUBJECT TO CHANGE AFTER FURTHER DILIGENCE AND REVIEW",
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      "text": "Evaluation of Spin-Off / Spin-Merger Alternatives: If a decision is made to further evaluate potential separation alternatives, management should undertake a process to determine how Opal might be organized into two or more separate entities, including considering: Which businesses each entity would contain. Determining how each entity would be operated and any potential agreements between the entities to minimize and / or mitigate any separation-related dissynergies. Review the potential dissynergies of a separation. Prepare financial projections for each entity as a standalone company. Once the financial projections are prepared, they should be incorporated into a financial analysis to determine the potential value outcomes associated with a separation. In parallel, further work should be done to evaluate the process and timetable required to effect a potential separation.",
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      "text": "Evaluation of Potential M&A Interest: After the in-person management meetings, allow each of Sponsor A and Salamander 1 - 2 additional follow up diligence calls within the next 7 - 10 days. Request that initial indications of interest be submitted in writing in ~1 - 2 weeks. Review and provide feedback. Special Committee to make a go / no go decision. Select third-party financing source. Confirm revised indication and leverage. Decide whether to contact other potential sponsors/strategics.",
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      "text": "Preliminary Perspectives Regarding Potential Next Steps",
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