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  "documentTitle": "Bank of America | Investment Banking Pitch Book | 41 slides",
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  "authorName": "Bank of America Merrill Lynch",
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  "presentationDate": "2016-02-01 00:00:00",
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  "notes": "The slide provides context for M&A negotiation terms, specifically focusing on go-shop provisions and their associated market benchmarks.",
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      "text": "Distribution of Go-Shop Periods",
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      "text": "Average of Two-Tiered Termination Fees",
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      "text": "Go-Shop: Active solicitation of alternative potential suitors for limited period immediately after signing/announcing transaction. Two-tiered termination fee: Lower fee payable if competing bidder submits superior proposal within go-shop period.",
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      "text": "Support Agreement: BOREAS agreement to support superior proposals (subject to matching rights). Matching Rights: Period for BOREAS to evaluate and decide whether to match a superior proposal. Expense Reimbursement: In addition to or in lieu of a termination fee, Company reimbursement of BOREAS out-of-pocket costs, subject to agreed-upon capped amount.",
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      "text": "Source: MergerMetrics. Represents transactions with \"Go Shop\" provision announced since 2011 and transaction values of greater than $100 million. (1) Based on termination fee payable as % of equity/offer value paid.",
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