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  "documentTitle": "Goldman Sachs | Investment Banking Pitch Book | 25 slides",
  "authorId": "goldman-sachs",
  "authorName": "Goldman Sachs",
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  "presentationDate": "2018-07-01 00:00:00",
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  "nDataPoints": 10,
  "notes": "The slide includes a weighted average tax on gain of $2.36 for public unitholders.",
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      "text": "$33.25 / Unit Assumed Total Consideration (1.75x Exchange Ratio | No Cash Consideration)",
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      "text": "Source: Arkose Merger Model and tax basis calculation provided by PwC. Note: Arkose Merger Model and tax basis calculation provided by PWC show bookend tax estimates based on assumed Midstream purchase prices of $32.35 and $25; tax on gain adjusted by the estimating capital gain taxes on incremental gains above $32.35 that are implied by a 1.75x exchange ratio. 1 Tax on gain calculation assumes a 37.0% ordinary income tax rate, 20.0% ordinary income deduction, a 23.8% capital gains tax rate, and 3.8% incremental tax rate on dividends and capital gains under the Affordable Care Act.",
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