Credit Suisse Investment Banking Pitch Book
CONFIDENTIAL
Overview of Saturn Proposal
Equity Purchase Price
Transaction Share Price
% premium
Common Shares (MM)
Common Stock Purchase Price
Net Options (MM)
Option Value
FD Shares
Total Equity Purchase Price
$33.00
24.7%
CREDIT FIRST
SUISSE BOSTON
288.4
$9,517
13.7
$453
302.1
$9.970
$35.00
32.3%
288.4
$10,094
(1) Assumes 50% of "in-the-money" options are rolled over into the transaction
Source: Saturn Presentation to Management on December 6, 2004
15.3
$535
303.7
$10.629
Sources & Uses
Sources
Bank Debt
High Yield Debt
Total Debt
Sponsor Equity/Roll Options (
Total Sources
Uses
Purchase Common Stock
Net Option Value
Cash from Balance Sheet
Retire Existing Debt
Deal Fees & Expenses
Total Uses
Total Debt/2004E EBITDA
Transaction Price
$33.00
$3.200
3,093
$6,293
$4,026
$10,318
$9,517
453
(387)
559
176
$10.318
6.0x
$35.00
$3,200
3,093
$6,293
$4,690
$10,983
$10,094
535
(387)
559
183
$10.983
6.0xView entire presentation