(Reuters) - Billionaire financier Carl Icahn had previously bid $22 a
share for the company, whose stock is now trading at less than
half that amount. WCI rejected Icahn's offer, saying in May it
believed that it could receive a richer bid.
"That $22 per share bid looks awfully good now," said
Morningstar analyst Eric Landry, adding that conditions for
home builders have deteriorated since WCI rebuffed Icahn.
"There is a glut of condos that has gotten worse, and investors
are more focused on it."
Read more at Reuters.com Bonds News
share for the company, whose stock is now trading at less than
half that amount. WCI rejected Icahn's offer, saying in May it
believed that it could receive a richer bid.
"That $22 per share bid looks awfully good now," said
Morningstar analyst Eric Landry, adding that conditions for
home builders have deteriorated since WCI rebuffed Icahn.
"There is a glut of condos that has gotten worse, and investors
are more focused on it."
Read more at Reuters.com Bonds News
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