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Corrections Corporation of America Message Board

  • newMK newMK Nov 11, 1999 7:43 PM Flag

    Michael Price - that's it!

    That's the guy I was thinking of when drawing an
    analogy regarding Dreman. He bought 15% of Vencor, and
    many jumped on his bandwagon. They formed a REIT in a
    taxable spin-off transaction.

    The shareholders
    paid tax on the value of the operating company stock
    they received (about $12) with cash out of their
    pockets. Those that didn't sell now have stock worth
    zilch. But they still have their REIT stock (VTR), with
    suspended dividends and a bankrupt tenant. Perhaps that was
    one of the three out of 10 that Price was allowed
    under the Lynch success formula.

 
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