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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]
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