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      "text": "2. Reaffirmed long-term distribution growth targets\n- AM public unitholders more than “made-whole” on previously communicated distribution targets with higher DCF coverage in the 1.2x – 1.3x range through 2022\n- $2.7 billion organic project backlog from 2018 through 2022 without the need for equity financing",
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      "text": "1. AMGP to acquire AM in a midstream simplification transaction\n- AM public unitholders receive all-in consideration valued at $31.41/unit\n- Eliminates IDRs, lowering AM cost of capital\n- Tax basis step-up eliminates ~$375 MM of expected AMGP taxes through 2022\n- Resulting entity is a C-corp for tax AND governance purposes\n- Larger public float and expected to benefit from broader institutional ownership and enhanced trading liquidity\n- Double digit average annual accretion to both AM unitholders and AMGP shareholders in the previously communicated forecast period of 2019 through 2022 on a distributable cash flow basis\n- Creates “best in class” large cap midstream entity with the highest expected distribution growth (“New AM”)",
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