This excerpt taken from the VNO 8-K filed Apr 6, 2009.
plus whatever the value of our Newkirk shares (now 8 million Lexington shares) turns out to be. We are playing with house money. We doubled our share count in October 2008 by acquiring an additional 8 million Lexington shares from our former partner at $5.60 per share. Lexingtons shares, which over the last year have traded as high as $17.22, were trading at $5.00 at December 31, 2008, and accordingly we have written them down to market(3). _______________________________________