Make us your home page
Instagram

Florida dealmaking jumps 67 percent, includes three of five largest mergers in Southeast

Community Health Systems’ purchase of the hospital chain run by Health Management Associates for $7.1 billion closed this week. Bayfront Health St. Petersburg is part of the chain. 

MELISSA LYTTLE | Times (2011)

Community Health Systems’ purchase of the hospital chain run by Health Management Associates for $7.1 billion closed this week. Bayfront Health St. Petersburg is part of the chain. 

Has Florida got a deal for you?

Florida was a mergers-and-acquisitions machine in 2013, accounting for 47 percent of all deals announced in the Southeast based on deal value, according to an analysis released Friday by deal tracker the Mergermarket Group.

Florida notched 189 deals worth a combined $34.7 billion last year, up 67 percent from the previous year's $20.7 billion total.

Three of the five biggest deals in the Southeast involved Florida-based targets, including the No. 1 deal: Community Health Systems' purchase of the hospital chain run by Naples-based Health Management Associates for $7.1 billion, a pact that closed just this week. Bayfront Health St. Petersburg is part of the chain.

Other Florida deals making the top five were cell tower operator American Tower Corp.'s $4.8 billion acquisition of Boca Raton-based Global Tower (the second-largest deal) and Fidelity National's purchase of the Jacksonville mortgage services firm Lender Processing Services for $3.8 billion (fifth-largest).

Bank of America Merrill Lynch emerged as the leading dealmaker, playing a role in four of the five biggest acquisitions.

Overall, there were 480 deals in the Southeast valued at $73.6 billion, up 17 percent from 2012. Counter to Florida, Georgia was hampered by a slower economic recovery, Mergermarket said, leading to a 34 percent drop in deals statewide to only $8.9 billion.

Florida dealmaking jumps 67 percent, includes three of five largest mergers in Southeast 01/31/14 [Last modified: Friday, January 31, 2014 7:19pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. New apartment complex delivers unique floor plans



    Business

    RIVERVIEW — A new luxury apartment community has opened in the Progress Village area touting itself as a distinct living option just 10 miles from downtown Tampa.

    Alta at Magnolia Park dubs its new apartment community, that opened earlier this year in Riverview, a modern and distinct option for living just 10 miles from downtown Tampa.
  2. 'Road to Nowhere' is back: Next phase of Suncoast Parkway coming

    Roads

    Despite intense public opposition and dubious traffic projections, the Florida Department of Transportation has announced that construction of the toll road known as "Suncoast 2" is expected to start in early 2018.

    The Suncoast Parkway ends at U.S. 98 just south of Citrus County. For years residents have opposed extending the toll road, a project dubbed the "Suncoast 2" into Citrus County. But state officials recently announced that the Suncoast 2 should start construction in early 2018. [Stephen J. Coddington  |  TIMES]
  3. A sports rout on Wall Street

    Retail

    NEW YORK — Sporting goods retailers can't shake their losing streak.

  4. Grocery chain Aldi hosting hiring event in Brandon Aug. 24

    Retail

    BRANDON — German grocery chain Aldi is holding a hiring event for its Brandon store Aug. 24. It is looking to fill store associate, shift manager and manager trainee positions.

  5. Lightning owner Jeff Vinik backs film company pursuing global blockbusters

    Corporate

    TAMPA — Jeff Vinik's latest investment might be coming to a theater near you.

    Jeff Vinik, Tampa Bay Lightning owner, invested in a new movie company looking to appeal to a global audience. | [Times file photo]