GEO Group (GEO) Tops Q4 EPS by 2c, FY15 Guidance Outpaces Views
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GEO Group (GEO) Closes $307M LCS Facilities Deal
February 18, 2015 7:57 AM ESTGEO Group (NYSE: GEO) announced the closing of its previously announced acquisition of eight correctional and detention facilities (the LCS Facilities) totaling more than 6,500 beds from LCS Corrections Services, Inc., a privately-held owner and operator of correctional and detention facilities in the United States, and its affiliates (collectively, "LCS"). The LCS transaction was structured as an asset purchase.
GEO acquired the LCS Facilities for approximately $307 million, or approximately $47,000 per bed, in an all cash transaction, excluding transaction related expenses. Additionally, LCS has the opportunity to receive an additional payment if the Facilities exceed... More
