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      "text": "1. Pro forma AMGP would likely be traded as a “simple” corporate midstream company (i.e., no need to account for different valuation metrics / growth rates between standalone AM and AMGP)\n2. Despite pro forma AMGP demonstrating DCF, EBITDA and cash distribution growth vastly superior to its new corporate peers (and generally as good - if not better - than comparable MLPs), at the current AMGP share price, pro forma AMGP would be trading at multiples of 2019E DCF and EBITDA appreciably below its comparables, corporate or MLP\n3. Moreover, a simple correlation of projected yield to distribution growth would suggest strong support for the AMGP share price materially above its current trading levels\n4. Lastly, pro forma AMGP would offer a conservative capital return and balance sheet posture with distribution coverage and balance sheet leverage superior to its corporate peers",
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