Bank of America Investment Banking Pitch Book
Preliminary, Subject to Further Review and Revision
Bank of America
Merrill Lynch
Executive Summary (cont'd)
Since BOREAS' 1/19/16 acquisition proposal, various events have occurred, including the following:
Tuesday, January 19th: Organizational meeting
■ Wednesday, January 20th: Reviewed preliminary timeline and initial data request list
Thursday, January 21st: Opened virtual data room to facilitate exchange/review of RHO information
Friday, January 22nd: Organizational meeting to discuss workplan and review timing of deliverables
■ Wednesday, January 27th: Received RHO management's preliminary financial projections for RHO (the "RHO Projections")
Friday, January 29th Reviewed property portfolio details
■ Monday, February 1st: Received the Company's 2016 business plan
Wednesday, February 3rd: Received updated RHO Projections from RHO management
■ Prepared a preliminary financial analysis based on RHO Projections (subject to further review and revision)
Today, we plan to discuss the following:
■ RHO Projections and related assumptions and various preliminary financial analyses (subject to further review and revision)
Preliminary net asset value analysis based on asset-level NOI forecasts from RHO's management and related assumptions
Preliminary discounted cash flow analysis based on RHO's management operating forecasts
Preliminary selected public companies analysis
■ Potential next steps, including an overview of potential alternatives
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