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Corrections Corporation of America Message Board

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  • newMK newMK Jul 17, 1999 7:29 PM Flag

    H-m-m-mmm, are we at the ....

    it's all in the merger proxy, but OPCO ownership
    is something like this: Baron Capital 16% for $8MM
    cash; Sodexho 16% for $8MM cash; PZN 9.5%; CCA wardens
    8.5%; CCA & PZN executives 50%. Somewhere there is a
    list of the executives and how much stock they got,
    but I couldn't find it again very readily. The
    wardens were told their stock (vesting in 5 yrs) would
    make them all millionaires. The executives, I believe,
    had to pay tax on their stock (CCA took a 4th quarter
    charge for the implied value of $26MM that they

    OPCO's transparency is no longer an issue - required as
    part of bond deal. If you are a PZN shareholder, or a
    lender to PZN, you want OPCO to be controlled as much as
    possible by PZN. I still don't know where Sundowner gets
    this nonsense about a strategic investor for OPCO. I'm
    with RP. If it happens, I think I'll sue.

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