Formula Error working with Text Fields

Formula Error working with Text Fields

The following formula checks out syntax wise but generates an incorrect result.
 
Concat(${Contacts.Mail Intro},' ',${Contacts.Last Name})
 
Example:
Mail Intro = Todd & Toni
Last Name = Young
 
I should get Todd & Toni Young.
 
Formula above evaluates to Todd Toni' Young  (note the missing & and got an unwanted ' )
This was tested on these two fields and then I changed the contents of both fields, and tried replacing the last name field with a different custom text field.  All gave similiar results to the above.  Stripped the & and added a ' and did the rest of the combination as specified.   
 
Anyone experience anything like this or can test it out and confirm that it's not just me real quick?