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Corrections Corporation of AmericaNYSE
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  • Nov. 3, 2015, 11:01 AM
    • Founded in 1985, Avalon and CCA (CXW -0.3%) have strong geographic and partner overlap, says CCA, with Avalon operating seven facilities in Texas, three in Oklahoma, and one in Wyoming.
    • The total deal price is $157.5M, with a possibility of another $7.5M in earn-outs which are expected to be achieved. CCA funded the deal with its revolver.
    • The addition of 3,157 re-entry beds brings CCA's owned and operating number to 4,365. The deal is expected to boost revenues by $35M-$45M and contribute about $0.06-$0.08 to FFO per share.
    | Nov. 3, 2015, 11:01 AM