{
  "docId": "019de06f-7674-731b-941e-06e96636c92e",
  "docSlug": "a65db879d574ef62ff03c8ac13d03bdc",
  "documentTitle": "Goldman Sachs | Investment Banking Pitch Book | 33 slides",
  "authorId": "goldman-sachs",
  "authorName": "Goldman Sachs",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2016-10-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2938006,
  "pageNumber": 21,
  "pageCount": 33,
  "prevPage": 20,
  "nextPage": 22,
  "slideType": "appendix_data",
  "function": "cite_precedent",
  "density": "dense",
  "nDataPoints": 80,
  "notes": "The slide uses a timeline visualization with color-coded dots to represent different stages of the transaction process.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-7674-731b-941e-06e96636c92e/21",
  "deckHref": "/decks/019de06f-7674-731b-941e-06e96636c92e",
  "deckJsonHref": "/decks/019de06f-7674-731b-941e-06e96636c92e.json",
  "deckAnchorHref": "/decks/019de06f-7674-731b-941e-06e96636c92e#slide-21",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.9,
        "x": 0.05,
        "y": 0.91
      },
      "kind": "disclaimer",
      "text": "Source: Public filings, DealPoint. Note: (1) Transactions listed by order of initial offer date. (2) Parentheses in price progression represents % cash / % stock breakdown. (3) M represents merger and T represents tender offer.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e952d941-f26b-4b41-b774-e8281dc2e1f1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.7,
        "x": 0.2,
        "y": 0.88
      },
      "kind": "legend",
      "text": "Initial Offer Announcement, First Price Increase, Second Price Increase, Third Price Increase, Final Merger Agreement Annc., Close of Transaction",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7da02637-ef53-493d-ab02-4c140dea4d76",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.9,
        "x": 0.05,
        "y": 0.84
      },
      "kind": "metric",
      "text": "Average: Average Offer Price Bumps: 1, Average Time to First Price Bump: ~3M, Average Time to Close: ~5M, Average Premium: 15.4% / 32.3%",
      "attrs": null,
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "67c248c7-c327-436b-b929-0dc5329af56c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.6,
        "x": 0.13,
        "y": 0.08
      },
      "kind": "subtitle",
      "text": "Includes US Targets; >$1bn Transaction Value; Acquiror Ownership of Target >50% Prior to Transaction",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f389bf83-ef6a-4928-b618-a93092ee66ad",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.95,
        "x": 0.05,
        "y": 0.18
      },
      "kind": "table",
      "text": "Table containing target, acquiror, ownership %, date, deal value, timeline, premium, and price progression data.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e43d05ec-5f2e-4ee7-b4c3-17bf74cd1cad",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.5,
        "x": 0.13,
        "y": 0.04
      },
      "kind": "title",
      "text": "Selected Precedent Squeeze Outs Since 2005 (3/3)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dc7218fe-3c25-4ae1-8dee-bc01c1693ac2",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Data-Ink Ratio",
      "slug": "data-ink-ratio",
      "agent": "Designer",
      "layer": "slide",
      "matchId": "9a213140-eb42-44ec-ae39-3855a4ba5d66",
      "evidence": "Table containing target, acquiror, ownership %, date, deal value, timeline, premium, and price progression data.",
      "confidence": 0.7
    },
    {
      "name": "Table data",
      "slug": "table-data",
      "agent": null,
      "layer": "slide",
      "matchId": "2abae246-4d70-48c3-9c58-9ccdb9efe654",
      "evidence": "Table containing target, acquiror, ownership %, date, deal value, timeline, premium, and price progression data.",
      "confidence": 0.9
    }
  ],
  "frameworks": [],
  "arcBeats": [],
  "loops": [
    {
      "to": 25,
      "from": 21,
      "name": "Hypothesis Test",
      "slug": "42-hypothesis-test",
      "bestFor": "Strategy validation, due diligence, research presentations",
      "matchId": "62668191-a16c-4a83-b048-de055e0a984e",
      "evidence": "The document provides an analysis of precedent transactions and shareholder considerations.",
      "position": 1,
      "objective": "To test the hypothesis that the proposed transaction is a good investment opportunity",
      "structure": "The Hypothesis -> Test 1 (Supports/Refutes) -> Test 2 (Supports/Refutes) -> Conclusion (Validated/Pivoted)",
      "confidence": 0.6,
      "description": "State a hypothesis upfront, then systematically prove or disprove it with evidence"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}