The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: Travis_Bickle	5/21/2007 11:31:55 AM
	of 306849

10:36AM WCI Communities: Icahn confirms tender for WCI Expires (WCI) 20.39 -0.05 : Carl Icahn confirms that the any and all cash tender offer at $22.00 per share for shares of WCI Communities, expired at midnight, Friday, May 18, 2007, with none of the approx 10.8 mln shares tendered being purchased by his affiliates. This resulted from the failure by WCI to redeem the poison pill and meet the condition regarding Section 203 of the Delaware General Corporation Law. Mr. Icahn stated that he will have much more to say about this subject, but it is sufficient to point out that WCI prevented its stockholders who were desirous of achieving liquidity at a substantial premium from doing so. Mr. Icahn further stated, "I hope for the stockholders' sake that WCI has a bid for the Company better than $22.00 per share or else it was reprehensible to take away this opportunity from them. Should WCI fail to achieve such a sale price, we hope that stockholders will support our proxy fight to unseat the current Board of Directors." finance.yahoo.com

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