St. Joe Co. considering sale | pnj.com | Pensacola News Journal: "St. Joe Co. considering sale"
St. Joe Co. considering sale
Associated Press • February 10, 2011
WATERSOUND — Panhandle land developer St. Joe Co. says it has hired Morgan Stanley & Co. to look at various options, including a possible merger or sale of the company.
St. Joe Co. made the announcement late Tuesday. The company says it board of directors also voted to have Morgan Stanley look at possible partnerships, joint ventures, strategic alliances.
The former timber company owns about 570,000 acres of Panhandle land. The company donated 4,000 acres for development of a recently opened international airport near Panama City and it owns 72,000 acres surrounding the airport.
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