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Corrections Corporation of America Message Board

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  • yieldseeker yieldseeker Feb 22, 2000 1:11 PM Flag

    Public Safety & a new deal

    You say the merger of OPCO and PZN is necessary,
    but you also say both entities are about to go
    bankrupt. What you must mean is that Blackstone's cash
    infusion is necessary. Merging without a cash infusion is
    obviously worthless. The merger is part of Blackstone's
    price for buying in.

    You say PZN shareholders
    get something from this deal. What? All of a
    worthless OPCO is not much. The deal is structured to pay
    more taxes, but save money by paying no common
    dividend.

    I will vote NO. Why write Blackstone a
    blank check in the blind faith that they will
    generously give anything to common shareholders?

 
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