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  "documentTitle": "TD Securities | Investment Banking Pitch Book | 40 slides",
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  "notes": "The table distinguishes between synergies included in value and those not included.",
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      "kind": "paragraph",
      "text": "Other logical potential buyers don't appear to have greater potential for synergies than Rio Tinto",
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      "text": "Estimated synergies were assessed using the following approach:",
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      "text": "Source: Company management and Rio Tinto management (1) C$14.6mm, converted to US$ using spot CAD/USD FX rate of 0.7713.",
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      "text": "Category, Items Contributing to Synergy, Results of Review. Public Company Costs / Head Office Costs, Redundant public company costs, personnel and head office costs, Annual synergies of US$[10]mm... One-time integration costs of US$[10]mm... Operating Costs and Capex Savings, Potential for Rio Tinto to add value..., Rio Tinto has already implemented... Tax Savings, Potential tax synergies for Rio Tinto, No apparent tax synergies for Rio Tinto.",
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