libssh2-1.2.1 Make error - syntax error near unexpected token `|'

[trevordevore@…]

I'm trying to build libssh2 as a universal binary. I'm running 10.5.8 on intel with XCode 3.1.2. The i386 build seems to work fine. During the PPC build the make process encounters an error. The first error reported is:

../libtool: eval: line 947: syntax error near unexpected token `|'

Previous to that error in the debug log I see that data is being piped into nothing:

.libs/pem.o | | /usr/bin/sed 's/.*

I'm guessing this is where the error is although I don't know much about the build process.

[trevordevore@…]

Debug Log