% | $
Quotes you view appear here for quick access.

Corrections Corporation of America Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • newMK newMK Feb 22, 2000 2:52 PM Flag

    Public Safety & a new deal

    I am not yet a believer that Blackstone's cash
    infusion is necessary, and I don't like the deal they are
    getting. Nonetheless, the merger is not the PRICE of
    Blackstone putting money in (just one of their conditions).
    The price of Blackstone's money is 18% and

    Just because both entities are essentially bankrupt
    (and PZN is in default, not BK), doesn't mean that the
    same insolvency would exist if they merged. PZN has
    basically a single tenant that is insolvent because of the
    rent it is paying to PZN. If they merge, all that goes
    away. And of course when they merge, there would be no
    more dividend payments as there would be no more REIT.

    How much cash they need after merging is anybody's
    guess. According to the proxy, they will need at least
    100MM for taxes.

28.50-0.06(-0.21%)Feb 10 4:01 PMEST