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  "notes": "Includes Goldman Sachs branding and standard investment banking disclaimer.",
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      "text": "Since Raven IPO exchange ratio chart",
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      "text": "Since FY2020 Q1 Earnings exchange ratio chart",
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      "text": "STRICTLY CONFIDENTIAL, PRELIMINARY DRAFT AND SUBJECT TO CHANGE",
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      "text": "Source: Bloomberg as of 12-Aug-2019. Representative exchange ratio premia calculations based on respective volume-weighted average prices for Raven and Vail.",
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      "text": "Raven / Vail Exchange Ratio Analysis",
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