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Corrections Corporation of America Message Board

  • justmyview justmyview Apr 7, 2000 5:15 PM Flag

    Gotham Investment

    I believe the stk should go back up to about
    $5.00 when BS option to match period is over. The PL
    deal is the same as when it was first announced when
    the price went to $5. The price dropped due to the
    uncertainty that a deal would get done.

    Gotham didn't
    buy hundreds of thousands of shares to see the value
    go to $4. I'm sure they felt the potential for a
    quick rise to $5 and up from there. Will probably see
    the appreciation when PL deal is final.

    I
    believe BS has 5 days to match PL's offer. So there
    should be a press release by next Friday, hopefully
    before market closing.

    Anyone else have ideas
    about price next Friday?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • All approvals by
      Board of Directors of PZN
      entities and

      Pacific Life have been obtained and
      agreements
      been signed . Documents filed with the Sec
      and the
      closing will take place prior to
      June 30th with
      Pacific Life unless Blackstone
      group meets or beats
      the PL deal Before
      12PM Friday.

    • Had a chance to look at the 8 k. Unfortunately it
      is written by lawyers in language that only a lawyer
      could love. But one thing caught my eye--the agreement
      PL signed is specifically enforceable.

      A
      lawyer once told me that a specifically enforceable
      agreement gives both parties the right to go to court and
      have a judge force the other party to complete the
      deal on the terms of the deal.

      So, not only is
      the PL deal more than just talk--it is a lock.

    • I understand everone is for it, want it, and need it, but that still dont hide the fact, it isn't a done deal,yet.Anything could happen!

    • Quit trying to put a frown on things.

      There is no way that this deal will fail.

      All involved want and need it.

    • The PL deal is not nailed down yet, There is
      nonthing certain about the PL deal as of yet. There are
      still more talk to do concerning the PL deal, and talk
      comes cheep.Dont count your chickens before the eggs
      hatch.

    • I really do hope this PZN deal works out for
      you.

      Then, just maybe... you will be able to afford to buy a
      computer that allows you to type in BOTH upper and lower
      case letters. Then you can STOP SHOUTING at everyone!

    • the risk/reward for PZN is favorable. With the PL
      deal nailed down it removes the risk of bankruptcy.
      Blackstone will probably walk away with their drop dead
      fees. The banks will roll their commitments over as a
      refinancing is very unlikely at this time. Capital spending
      is winding down and along with the cancellation of
      dividends this should shore up cash flow going forward. The
      big key is filling up the 6-7 new and or expanded
      prisons in order to drive occupancy well into the 90%+
      range. This is by no means a given but if everything
      broke right and solid, reputable management were
      brought in then this stock could easily double from
      present levels. BTW, I am not personally long as I have
      been fearful of the worst but now that the PL deal is
      set I think PZN looks like an interesting speculative
      play.

    • you are so full of shit, i bet your eyes are
      brown.how could anyone suggest, unless it is a hopeful
      guess this company will ever get back on it;s
      feet.
      it is politicaly ruined, no money to buy them,that
      is how they come as far as they have anyway. The way
      you talk, and as uplifted as you sound, it seems you
      may be somekind of employee of pzn.

    • The demand for Prisons is huge. This
      new
      investment lifts the dark cloud that may
      have prevented
      states from considering PZN
      as provider of
      prisons.

      Dreman Funds at Kemper are confident that
      PZN will
      return to 30% annualized growth.

      We could see a
      $30 stock price 5 years out.

    • I do not have a view about next Friday, other
      than to agree with you in that if BS bows out, PZN
      will rise. My guess is no more than $5.

      Over
      the next 3 months, my view is that PZN will perform
      in accordance with the SPEED with which this deal is
      done. First we need PL to lock in the deal. Then we
      need PL to actually take over and install new
      management (CEO and CFO). Then new management must act
      quickly to plug leaks in the boat and set it on a true
      course. For example, selling the low occupancy prison in
      California for about book value (good deal for California,
      but good for PZN too), would bring in even more cash
      and confidence.

      Speed is of the essence now.

 
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