Monday, April 30, 2007

Barron's Bearish on Icahn

Well, just as I am start talking about what great negotiators the folks at American Real Estate Partners are, Barron's contends that its shares are some 40% overvalued. (I'm linking the wire report for those that do not have a subscription.) Maybe I am confusing tough legal negotiation with tough business negotiation. But I doubt it. Barron's could be wrong, or the analysts may be selecting the wrong assets. How much did EOP's price go up between October of 2006 and the closing? Wasn't it just over 40%?

Of course, Barron's also thought the EOP deal night be the top of the market. Time will tell.