Cardtronics Pulls IPO
HOUSTON - (03/02/05) -- Cardtronics Inc., owner of thenation's largest fleet of ATMs, said Tuesday it has withdrawn itsplans to raise as much as $115 million through an initial publicoffering. The company, which filed for an IPO last May, said it iswithdrawing its plans because of continuing ongoing developmentswith regard to the company's business and financing. Cardtronicsacquired E*Trade's fleet of 15,000 ATMs last fall, giving it morethan 27,000 ATMs, far outpacing bank of America's 17,000-machinefleet. Cardtronics paid $110 million for the E*Trade machines, partof which it planned to finance through the stock offering. TheCardtronics machines form the basis of the Allpoint surcharge-freeATM network, in which more than 60 credit unionsparticipate.