ss comments for amex and kpool, page-8

Good morning Hardmano,

I read the opinion from the source you quoted. Amazing how witnesses to an event have different takes on it. For my part, and in full knowledge of the contrary view taken by your correspondent, I would have to say I disagree profoundly. The salient point missed here is that without TZL, PE/AGT did not have Intevia. They might have had a name but there was no substance without TZL. PE took TFS to separate the components and on-sell as fast as they could conclude deals at a sizeable profit. This is the optimum way of them achieving their goals given TZL held the aces. Far from paying too little, AGT obtained all they could. The situation reveals just how strong a hand TZL was dealt. TZL are now sufficiently bulked up with fully 560 employees, a multitude of deals to be announced in aerospace and automotives along with medical devices. Deals not yet made public due to the ongoing deliberations. As always, different shareholders have different opinions and pursue different investment strategies. For all I know your correspondent may have been happy to make a small profit. I am usually much happier making a much larger profit!