St. Joe Company (JOE) To Seek Financial and Strategic Alternatives
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After the close, The St. Joe Company (NYSE: JOE) announced that its Board decided to explore financial and strategic alternatives to enhance shareholder value and has hired Morgan Stanley to assist it.
Britt Greene, St. Joe's President and CEO, said, "We have engaged Morgan Stanley to undertake a comprehensive and thorough review of all available alternatives, and our Board and management are committed to taking the appropriate and necessary actions to enhance value for St. Joe shareholders."
The news follows reports earlier in the week that large shareholder and board member Bruce Berkowitz would seek a board takeover.
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Britt Greene, St. Joe's President and CEO, said, "We have engaged Morgan Stanley to undertake a comprehensive and thorough review of all available alternatives, and our Board and management are committed to taking the appropriate and necessary actions to enhance value for St. Joe shareholders."
The news follows reports earlier in the week that large shareholder and board member Bruce Berkowitz would seek a board takeover.
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