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An even bigger point may be that neither company's shareholders would get a premium for shares.
Those who do sell apartments in the prime areas will get a premium.
"You certainly get a premium on a prebuilt," Mr. Fink said.
"You get a premium for a Chad Oppenheim building," Mr. Covin said.
A lot of people, and a lot of businesses, are going to get a premium, no doubt about it".
"It's very valuable space — you get a premium for them," said Gary Barnett, the president of the Extell Development Company.
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CNN still makes $600 million a year and should be happy that it gets a premium on cable systems because its global news resources are still seen as essential.
In a true merger of equals, neither side gets a premium.
"We all like to think we are getting a premium, rarer product.
"Any little piece of land, we are really getting a premium for," Mr. Tarantino said.
Wachovia may end up actually getting a premium, but not from First Union.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com