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  "documentTitle": "Tudor, Pickering, Holt & Co | Investment Banking Pitch Book | 11 slides",
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  "authorName": "Tudor, Pickering, Holt & Co",
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  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-09-01 00:00:00",
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  "pageNumber": 7,
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  "density": "balanced",
  "nDataPoints": 36,
  "notes": "The slide compares exchange ratios and implied values for three different transaction proposals.",
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      "kind": "callout",
      "text": "AM current price of $30.05; Cash consideration used to pay all taxes; For comparison purposes, AM Proposal assumes issuance of 17.354mm AMGP shares for Series B Unitholders",
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      "kind": "disclaimer",
      "text": "Source: Management projections and FactSet as of 9/21/2018. Note: Cash consideration of $3.415 per AM unit...",
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      "text": "Table showing AR Base Case and AR Downside Volumes Case with exchange ratios and implied values for AMGP, Citi, and AM proposals.",
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      "kind": "title",
      "text": "After-Tax Discounted Dividend / Distribution Analysis",
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      "kind": "title",
      "text": "XR Adjusted Implied PV / Unit at Various 2022E Distribution Yield | 10% Equity Discount Rate",
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      "evidence": "The financial analysis and data tables on slides 3-7 suggest a benchmark gap loop.",
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      "structure": "Our Performance -> Industry Average -> Best-in-Class -> The Gap = The Opportunity",
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