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  "documentTitle": "Tudor, Pickering, Holt & Co | Investment Banking Pitch Book | 78 slides",
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  "authorName": "Tudor, Pickering, Holt & Co",
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  "presentationDate": "2019-01-01 00:00:00",
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  "notes": "The slide presents a detailed DCF-style valuation table with projections from 2019E to 2022E and a terminal value calculation.",
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      "text": "AM current price of $21.98 as of 1/2/2019. Cash consideration used to pay all taxes for an average public AM unitholder; any additional cash available assumed to purchase secondary shares",
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      "text": "Source: Management projections and FactSet as of 1/2/2019. (1) Inclusive of Federal & State capital gains taxes.",
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      "text": "PF AMGP After Tax Cash Flow",
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      "text": "8.5% Terminal Yield Value | Unadjusted Exchange Ratio | Downside Case",
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