A banking and financial holding company that provides a full range of products and services including commercial & consumer leasing, asset based financing, accounts receivable management, international trade financing and investment management services.
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good take over target?
3/4 of STL's enterprise value is debt rather than equity
STL would hardly be a promising takeover target if most of the cost of the takeover would be debt assumption rather than equity or gaining assets. STL's cash/equity is quite low relative peers (c, bac, jpm, sti)
STL's territory (NY, NJ, CT) is higher in taxes and slower in growth relative US, esp. sunbelt.
taking over STL looks more like charity than good strategy.