From a small business merger to the friendly acquisition of a major corporation, takeovers can take a number of forms. In Fort Lauderdale and throughout Florida, many businesses are taking advantage of the perks of buying a company. However, before moving forward with an acquisition, it is imperative to approach the process properly with comprehensive planning. When solid business goals are established and an effective plan is implemented, mergers and acquisitions are a great way to grow.
In 2013, there was an increase in the number of mergers and acquisitions in Florida. In fact, according to a report, 47 percent of acquisitions in the Southeast took place in the Sunshine State. The most notable acquisition in the region, a $7.1 billion deal, was the purchase of Health Management Associates by Community Health System.
South Florida saw a considerable number of bank acquisitions disclosed throughout the year, whereas the financial sector only represented 5.5 percent of acquisitions in the Southeast. According to the research, industries that saw the highest market share were industrial/chemicals, life sciences/medical and business services.
When it comes to successfully acquiring another business, companies should avoid simply taking a cookie cutter approach that fails to take every detail into consideration. In order to maximize profitability and ensure a smooth transition, it is essential to focus on various details that pertain to the unique characteristics of a merger. Furthermore, the legal process can be complicated and difficult for those who are not well-versed in law to understand, so anyone who needs assistance could benefit from talking to an attorney.
Source: South Florida Business Journal, “Florida has spike in merger and acquisition deals in 2013,” Brian Bandell, Feb. 5, 2014