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...Adam SilversteinMemberOtterbourg Over the past year, Adam Silverstein has played a crucial role in clamping down on big corporations deploying the so-called Texas two-step, whereby a company facing mass...
...CoreCivic said it will drop its real estate investment trust (Reit) status and become a taxable C corporation, a shift that comes with a higher tax bill but which will allow the company to cut its dividend...
...GEO Group and CoreCivic this year converted to corporations to shore up their balance sheets. In its waning days, the Trump administration is still pushing to thwart ESG momentum....
...Similarly, Corrections Corporation of America last year switched to CoreCivic, a name that, like Axon, means very little corporately. At least CoreCivic’s move made political sense....
...Neither Geo Corp nor Corrections Corporation of America have quite regained their levels from before the DoJ decision, but their valuations are close to where they were....
...That’s the rebranded name of Corrections Corporation of America, the private prison operator. GEO Group, the company at the bottom of the list above, is in the same business....
...Corrections Corporation of America, one of the country’s biggest private prison operators....
...GEO Group and the Corrections Corporation of America — the two big owners of for-profit prisons in the US — are New York-listed companies with market capitalisations of $2.6bn and $4bn, respectively....
...The “criminal alien” prisons set up to hold border crossers are almost exclusively run by private companies, led by Corrections Corporation of America and the Geo Group....
...The contracts could draw the attention of financial investors as well as international prison operators, such as London-listed G4S, which runs six jails in the UK, or US-listed Corrections Corporation of...
...Marcato and Corvex both had success at the Corrections Corporation of America, where they are attempting to persuade the prison operator to convert into a real estate investment trust....
...Corrections Corporation of America, the biggest by market capitalisation, has outperformed S&P mid-cap stocks by more than 40 per cent in the last five years....
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