PJT Partners Investment Banking Pitch Book
Has / Gets Analysis
BASED ON FY2017E
($ in millions except per share data)
(Balance sheet data estimated as of 12/31/16E)
Adj. EBITDA Per Share
Unadjusted
[*]
Synergies (annual)
Cost Savings
Tax Savings
Financial (Liabilities) / Assets
Net Debt
Equity Investments and Other Financial Assets and (Liabilities) (2)
Total Financial (Liabilities)/ Assets
Post-Merger
Total
$775
$35
60
($4,155)
899
($3,256)
Source: Capital IQ and PJT estimates based on Wall Street research and discussions with Lunar Management.
Note: As of FY2017E. Excludes Rights Offering.
(1) Based on market value. Includes minority interest in Pilgrim Studios. Equity investments adjusted for full consolidation of Solar.
Has
Owner of a Single LGF Share
Gets
$1.65
[*]
($5.55)
6.36
$0.81
$4.06
[+]
$0.18
0.31
($21.76)
$4.71
($17.05)
Confidential
A
$2.41
$0.18
0.31
($16.21)
(1.65)
($17.86)
PJT Partners
5
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