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Corrections Corporation of America Message Board

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  • newMK newMK Jan 29, 2000 4:45 PM Flag

    The proposal will get the votes

    if I understand the 8-k correctly, the extra 6%
    would be potentially payable if the PZN stock DIDN'T
    appreciate enough. In other words, if after at least 5 years
    the stock hasn't appreciated enough, Blackstone can
    have the company redeem it at a price that kicks up
    the yield retroactively from 12% to 18%. CCA can also
    elect to redeem the stock on the same terms if for some
    reason it would be to their advantage and Blackstone
    hadn't converted.

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