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  "documentTitle": "Baird | Investment Banking Pitch Book | 29 slides",
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      "text": "A comparison of key metrics implied by the current proposal (1) (1.6x AMGP shares for each AM unit)\nWhat are the impacts of modifying the exchange ratio to a higher level?\nWhat are the impacts of adding a cash component to the transaction?\nApproaches to the Series B valuation\nSummary of levers discussed and illustrative counter proposal",
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      "text": "Baird and Sidley are awaiting additional information related to proposed tax structure of the transaction. It is our intent to provide the special committee with an analysis of the proposed tax structure and its impacts to AR relative to other potential structures in a future meeting.",
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      "text": "The materials presented herein assess the impacts of adjusting certain key transaction levers; in particular, Baird addresses the following topics:",
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      "text": "(1) All references to the current proposal refer to the proposal letter dated June 8, 2018, addressing the potential acquisition of AM by AMGP.",
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      "text": "SUMMARY OF INFORMATION PRESENTED HEREIN",
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