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  "notes": "The slide presents a valuation bridge and discount calculation based on transaction statistics and NAV components.",
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      "text": "Source: FactSet (as of 2/1/19). 1. Proxy statement (5/1/19). 2. Implied valuation in proxy statement (5/1/19) derived by Moelis by applying terminal year EBITDA multiples ranging from 4.0x to 6.5x.",
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