Icahn-Lazard Report: React Mixed

NYT: : “Mr. Wasserstein’s firm is to be paid more than $5 million for every $1 increase in Time Warner’s share price. … Some analysts and investors quarreled with Lazard’s arguments and assumptions, contending that the firm overestimated the value that the market would put on its businesses if they traded independently.”

Douglas Shapiro, analyst, Bank of America (via Forbes):
The Icahn group may lose the battle but, if the stock goes up, it will have won the war.

FT: “Another question raised was why Mr Wasserstein had not discussed the stock price performance of Viacom, which split from CBS at the beginning of this year. ;The glaring omissionĂ¢