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  "documentTitle": "Baird | Investment Banking Pitch Book | 29 slides",
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  "authorName": "Baird",
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  "presentationDate": "2018-07-01 00:00:00",
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  "notes": "The slide compares current market metrics against a pro forma scenario for a potential transaction.",
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      "kind": "paragraph",
      "text": "Comparative trading metrics highlight the current valuation disparity between AMGP and AM (AMGP trades at a substantial premium)",
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      "text": "On a pro forma basis, the valuation metrics of the new AMGP, “AMC”, would suggest it’s likely that the security holds its value and potentially trades higher, which would allow the owners (including AR) to realize additional value following the transaction",
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      "text": "Source: Antero management projections. (1) Cash flow represents distributable cash flow attributable to LP unitholders / shareholders at full payout. Cash flow to AMGP is net of Series B profit interest and taxes.",
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      "text": "Table comparing Price, Yields, Growth, and Multiples for AM, AMGP, and AMC Pro Forma",
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      "text": "RELATIVE TRADING ANALYSIS",
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