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  "notes": "This slide details the due diligence and valuation methodology steps performed by Baird.",
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      "text": "In conjunction with the Committee and its legal counsel, reviewed the initial proposal letter and associated supporting materials provided by the Conflicts Committee of AMGP dated June 8, 2018, as well as subsequent counterproposal letters from the Conflicts Committee of AMGP and the Conflicts Committee of AM, in each case, as provided to us;\nIn conjunction with the Committee and its legal counsel, reviewed the principal financial terms of the Agreement (draft dated October 7, 2018);\nReviewed the proposed financial terms of the Transaction and the reported financial terms of certain other transactions we deemed relevant;\nReviewed the historical market prices, trading activity and market trading multiples of AM Common Units and AMGP common shares, as well as those of certain other publicly-traded partnerships and companies we deemed relevant;\nConsidered the present values of the forecasted cash flows attributable to AM, AMGP and AMGP Corp as contained in the Forecasts;\nConsidered the present values of the forecasted stand-alone distributions to the holders of the AM Common Units and AMGP common shares as contained in the Forecasts;\nConsidered the impact to AR of the completion of the Transaction, as reflected in the Forecasts;\nReviewed certain potential pro forma financial effects of the Transaction based on information furnished to us, and prepared, by management for purposes of our analysis; and\nConsidered various other information, financial studies, analyses and investigations and financial, economic and market criteria we deemed relevant for the preparation of our opinion.",
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      "text": "PROCESS OVERVIEW (CONT.)",
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