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Florida mergers fall sharply in third quarter

Mergers and acquisitions across Florida fell sharply in the third quarter in another sign of the economy's summer slump.

Thirty-one deals valued at $3.4 billion were completed in Florida in the quarter, down from 63 deals totaling $8.6 billion in the year-ago quarter, according to a report Tuesday from the Mergermarket Group. The total was also down from the second quarter's tally: 49 deals valued at $5 billion.

Chris Marr, Mergermarket's Southeast U.S. bureau chief, said economic and financial worries may have weighed down dealmaking. Nevertheless, he said, there were some expansion opportunities. Among the biggest deals: FPIC Insurance's sale to the Doctor's Group for $360 million and staffing firm SFN Group's sale to Randstad Holding for $771 million.

Florida mergers fall sharply in third quarter 10/18/11 [Last modified: Tuesday, October 18, 2011 8:12pm]
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