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Corrections Corporation of America Message Board

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  • lchrisutah lchrisutah Jan 5, 2000 11:56 PM Flag

    Food for thought....

    This stock is overvalued at $5. Otherwise, why
    would mgmt sell it to the SI group for $2.21. In
    effect, that is what they are doing. The SI group gets a
    12% cash dividend for a minimum of 5.5 yrs. That is
    $4.29 (5.5 * $0.78.) $6.50 - $4.29 equals $2.21. The
    only condition is that they hold the stock for 5.5
    yrs. (Of course, it's even less than $2.21 with all
    the other perks that the SI group gets.)

    makes me feel ripped off, and I bought the stock for $4
    9/16 per share. I say, forget the S.I. group. Keep the
    REIT, sell more common stock for $2.21 (actually maybe
    someone else would even give us more), and skip the after
    tax preferred dividend. (That might leave something
    for us common shareholders.)

    I just wonder
    what Dreman plans to do.

36.02+0.30(+0.84%)Nov 21 4:04 PMEST

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