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  "documentTitle": "Baird | Investment Banking Pitch Book | 18 slides",
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  "presentationDate": "2018-03-01 00:00:00",
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  "notes": "Includes a quote regarding the rationale for the reorganization.",
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      "kind": "list",
      "text": "Tallgrass Energy announced an agreement for Tallgrass Energy GP, LP (\"TEGP\") to acquire Tallgrass Energy Partners (\"TEP\")",
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      "kind": "quote",
      "text": "Tallgrass is evaluating potential reorganization transactions that could, among other things, streamline and simplify TEP and TEGP's organizational structure, improve its equity cost of capital, improve its debt cost of capital and facilitate financing of its current and future growth opportunities.",
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      "text": "Source: Tallgrass acquisition press release and presentation dated March 26, 2018. (1) Excludes ~25.6 million units owned by Tallgrass Equity, LLC. (2) Current TEGP shareholders will own 58.1 MM shares (~21% interest). Current TEP unitholders will own ~95.2 MM shares (~34% interest). (3) Adjusted for 65% of LP units acquired, 1.13% GP interest, assumed net debt of $2.1 billion and assumed noncontrolling interests of $69 million. (4) Consensus Wall Street estimates.",
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      "text": "KEY TEGP & TEP STATISTICS (at Feb. 7)",
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      "text": "TRANSACTION METRICS (prior to Feb. 7 announcement)",
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      "text": "CASE STUDY: TALLGRASS SIMPLIFICATION",
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