Chris Meyer Asset Quotations

Quality is a little hard to figure out, but strong asset management incentive fees offset weaker restructuring fees resulting in in-line revenue.

The new combined company is going to be trading at something like 20 to 22 times 2007 earnings. So, it's very much at the high end of the asset management peer group. Most asset managers trade at that sort of multiple on this year's earnings, not next year's earnings.