St. Joe Company might go on the market

The St. Joe Company might be looking for a buyer.

Selling the company is one of many financial and strategic alternatives St. Joe’s board of directors has decided to explore.
In a press release issued Wednesday, the company said Board members will consider everything from a revised business plan, operating partnerships, joint ventures, asset sales, and sale of the company.
The Board of Directors has retained Morgan Stanley & Co. to assist it in the evaluation of the alternatives.
The St. Joe Company, which is the biggest landowner in North Florida, has faced tough times in recent years because of the housing collapse and the Gulf of Mexico oil spill.
St. Joe is suing a number of companies involved with the oil spill including Halliburton.
It’s also involved in a lawsuit with Franklin County over the removal of future land use maps from the county’s comprehensive plan.


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