Businessweek

Members%20of%20The%20GEO%20Group%2C%20Inc.%20and%20management%20teams%20of%20GEO%20Care%2C%20Inc.%20entered%20into%20a%20definitive%20agreement%20to%20acquire%20GEO%20Care%2C%20Inc.%20from%20The%20GEO%20Group%2C%20Inc.%20%28NYSE%3AGEO%29%20for%20%2441%20million%20on%20December%206%2C%202012.%20Under%20the%20terms%20of%20agreement%2C%20Members%20and%20management%20teams%20will%20pay%20%2436%20million%20as%20purchase%20price.%20They%20will%20additionally%20pay%20%245%20million%20on%20a%20contingent%20earn-out%20basis%20if%20certain%20potential%20future%20contract%20awards%20are%20received%20by%20GEO%20Care.%20The%20transaction%20must%20be%20approved%20by%20the%20lenders.%20GEO%20Care%20Inc%20and%20buyers%20shall%20have%20executed%20and%20delivered%20the%20license%20agreement%20and%20employment%20agreements.%20Buyers%20have%20to%20obtain%20the%20debt%20financing.%20Foer%20the%20year%202011%2C%20GEO%20Care%20reported%20revenue%20of%20%24165%20million%20Special%20committee%20of%20the%20Board%20consisting%20of%20all%20the%20independent%20directors%20of%20GEO%20and%20the%20Independent%20Committee%20approved%20unanimously%20approved%20the%20sale%20plan.%20The%20transaction%20is%20expected%20to%20close%20by%202012%20end.%20Leonard%20Kreynin%2C%20Daniel%20R.%20Marx%2C%20Michael%20Mollerus%2C%20Ethan%20R.%20Goldman%2C%20John.%20T.%20Wright%2C%20Jessica%20Neidhart%20Agostinho%2C%20David%20R.%20Bauer%20and%20Pritesh%20P.%20Shah%20of%20Davis%20Polk%20%26%20Wardwell%20LLP%20acted%20as%20legal%20advisors%20for%20the%20special%20committee%20and%20The%20GEO%20Group.%20Duff%20%26%20Phelps%20LLC%20acted%20as%20fairness%20opinion%20providers%20for%20the%20special%20committee.%20Delancey%20Street%20Partners%2C%20LLC%20acted%20as%20fairness%20opinion%20providers%20and%20financial%20advisors%20for%20the%20special%20committee.%20David%20L.%20Perry%20of%20Holland%20%26%20Knight%20LLP%20acted%20as%20legal%20advisor%20for%20Members%20of%20The%20GEO%20Group%2C%20Inc.%20and%20management%20teams%20of%20GEO%20Care%2C%20Inc.%20Kucera%2C%20William%20R%20and%20Murray%2C%20D.%20Michael%20of%20Mayer%20Brown%20LLP%20acted%20as%20legal%20advisors%20for%20Duff%20%26%20Phelps.