Ann: Indue Acquisition Fully Funded, page-63

Hostility? Pls explain.

I asked questions and expressed my view respectfully.

So again, explain which part is hostile?

Re ATM west I dont know enough about them..but obviously they are not as integrated as STl.

STL is vertically integrated, thats why I said no peer comparison..try name 1 compant that is as integrated in the payment system as STL if you can.

Dc payment is or was an atm player...they are bigger in ATM, yes..but their overall business cant be compared to STl as a whole.

I mean there are obviously tons of isolated ATM players or switching company players, but they are not as integrated as STL...

This is what I mean by why STL has no peers and if youre comparing an isolated ATM players vs STL and see their relative valuation then youd get misled.

If you separate the individual businesses of STl and check each againts peers in each field then obviously thats a different subject..

Dyor.