Einhorn Says St. Joe Buyout Would Be ‘Very Tough’
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A takeover of St. Joe Co., the largest private landholder in northern Florida, is unlikely because the company’s financial condition would make financing a leveraged acquisition “very tough,” said hedge fund manager David Einhorn, who is short the shares.
Einhorn responded on Bloomberg Television to speculation that holders of the Watersound, Florida-based company may be discussing a buyout. The president of Greenlight Capital Inc. also said there are still bargains in the U.S. stock market and that European authorities risk credibility with too many government bailouts.