{
  "docId": "019de070-9020-721e-a949-f5c2ae5f5733",
  "docSlug": "2461453b280cb11c3f4e310d9d5596c2",
  "documentTitle": "Goldman Sachs | Investment Banking Pitch Book | 27 slides",
  "authorId": "goldman-sachs",
  "authorName": "Goldman Sachs",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2021-01-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2938006,
  "pageNumber": 15,
  "pageCount": 27,
  "prevPage": 14,
  "nextPage": 16,
  "slideType": "financial_analysis",
  "function": "analyze_data",
  "density": "overcrowded",
  "nDataPoints": 2,
  "notes": "The adjusted price is calculated using the median of government services peers' 1-day share price performance on notable trading events.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de070-9020-721e-a949-f5c2ae5f5733/15",
  "deckHref": "/decks/019de070-9020-721e-a949-f5c2ae5f5733",
  "deckJsonHref": "/decks/019de070-9020-721e-a949-f5c2ae5f5733.json",
  "deckAnchorHref": "/decks/019de070-9020-721e-a949-f5c2ae5f5733#slide-15",
  "components": [
    {
      "bbox": {
        "h": 0.11,
        "w": 0.18,
        "x": 0.64,
        "y": 0.36
      },
      "kind": "callout",
      "text": "Bloomberg publishes article on potential sale of Panther ($19.60 share price day before article release) (11/9/20)",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0a9b4b03-99e9-44a9-be97-107db8b56765",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.13,
        "x": 0.16,
        "y": 0.58
      },
      "kind": "callout",
      "text": "Panther loses NGEN contract to Leidos (2/5/20)",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8076d8d3-1597-44bc-a17e-17d1b4fed0d2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.14,
        "x": 0.75,
        "y": 0.27
      },
      "kind": "callout",
      "text": "Veritas files 13-D announcing preliminary buyside discussions with Panther (1/6/21)",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9e9bd3c0-66c6-4b1c-bea5-998d1abcfe96",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.13,
        "x": 0.39,
        "y": 0.36
      },
      "kind": "callout",
      "text": "13-D filed disclosing JANA stake in Panther (6/11/20)",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d1e55813-9aa0-42cb-829c-3456bd0f5d39",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.75,
        "x": 0.15,
        "y": 0.26
      },
      "kind": "chart",
      "text": null,
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c7a15aec-1937-4545-b9e2-cf2fd27a29a7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.75,
        "x": 0.11,
        "y": 0.85
      },
      "kind": "disclaimer",
      "text": "Source: Bloomberg and IBES as of 22-Jan-2021. Note: Panther adjusted share price calculated by using median of government services peers 1-day share price performance on notable trading events (JANA 13-D, Bloomberg article, Veritas 13-D).",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "61c3554a-59e2-4abd-a1ff-2517a45a7d44",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.22,
        "x": 0.39,
        "y": 0.8
      },
      "kind": "legend",
      "text": "Panther (Adjusted) Panther (Actual)",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9c7dab7c-df5a-4f74-9f52-03f9a8bec8f1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.045,
        "w": 0.85,
        "x": 0.077,
        "y": 0.185
      },
      "kind": "title",
      "text": "An analysis of Panther's unaffected share price (after adjusting for JANA's and Veritas' 13-D filings and the Bloomberg article speculation about a potential sale) suggests a value near $20",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "811007a8-c978-44e8-9719-1256420551bd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.025,
        "w": 0.41,
        "x": 0.077,
        "y": 0.098
      },
      "kind": "title",
      "text": "Panther LTM Share Price Performance",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fab6ad64-3c5a-4504-9448-26e0a2c2fe62",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 15,
      "from": 12,
      "beatId": "a0657fab-ac4e-4c81-96ed-b45c806bd215",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Evidence & Proof",
      "beatSlug": "consultants-gambit-evidence-proof",
      "evidence": "The deck provides historical and current EV / EBITDA valuations and LTM share price performance.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [
    {
      "to": 15,
      "from": 11,
      "name": "Pattern Hunter",
      "slug": "02-pattern-hunter",
      "bestFor": "Time-pressed audiences, building consensus, when data is strong",
      "matchId": "dab73204-cd4f-4b75-beed-5dc0f88ff471",
      "evidence": "The deck presents relative contribution summary and LTM share price performance.",
      "position": 0,
      "objective": "What are the key metrics for the combined company?",
      "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
      "confidence": 0.7,
      "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}