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  "docSlug": "caa2f3ff3bd0400fbd00646723c059c3",
  "documentTitle": "Goldman Sachs | Investment Banking Pitch Book | 48 slides",
  "authorId": "goldman-sachs",
  "authorName": "Goldman Sachs",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-04-01 00:00:00",
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  "pageNumber": 27,
  "pageCount": 48,
  "prevPage": 26,
  "nextPage": 28,
  "slideType": "data_table",
  "function": "analyze_data",
  "density": "balanced",
  "nDataPoints": 200,
  "notes": "The slide uses a two-table layout to contrast selling pressure against potential buying demand.",
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      "kind": "disclaimer",
      "text": "Source: Thomson Reuters as of 4Q 2017. Note: Top investors of Pro-Forma applies an illustrative exchange ratio of 1.5285x to Midstream. Room to Add is based on average % shares outstanding held by an investor per peer, applied pro-rata to Pro-Forma market cap then deducting any current positons held in Pro-Forma. Pro-Forma cap is $7.7bn. * Pro-forma peers include BPMP, CNXM, EQM, ENLC, ENLK, EQGP, HESM, NBLX, PSXP, VLP, WES, and WGP.",
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      "kind": "table",
      "text": "Table showing investors with theoretical room to add",
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      "text": "Table showing investors likely to sell to normalize positions",
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      "bbox": {
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      "kind": "title",
      "text": "Anticipating Shareholder Behavior Upon Combination",
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      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
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      "evidence": "The deck discusses the potential impact of the proposed acquisition and structural alternatives on shareholder/unitholder economics and index inclusion, and presents potential next steps and process tactics.",
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