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  "documentTitle": "Goldman Sachs | Investment Banking Pitch Book | 12 slides",
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  "notes": "Goldman Sachs Investment Banking Division slide detailing M&A transaction parameters.",
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      "text": "STRICTLY CONFIDENTIAL, PRELIMINARY DRAFT AND SUBJECT TO CHANGE",
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      "text": "Vail will acquire each of the outstanding shares of Raven's Class A common stock for $14.25 per share in cash",
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      "text": "Diamond will exchange each of its shares of Raven's Class B common stock for 0.0550 of a share of Vail Class A common stock",
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      "text": "On August 13th, Vail made a proposal to Diamond outlining the following parameters for potential acquisition transaction of Raven:",
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      "text": "Source: Bloomberg as of 12-Aug-2019. 1 Raven price per share implied from exchange ratio of 0.055x and Vail share price of $158.28 as of 12-Aug-2019. 2 Illustrative calculation of value of Vail shares issued to Diamond assumes Vail share price of $158.28 as of 12-Aug-2019. 3 Assumes 131.3m Raven shares held by Diamond, 330.7m Vail shares held by Diamond (300.0m Class B, 30.7m Class A) and 409.2 total Vail shares outstanding.",
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