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Bluegreen Vacations Sinks After Plan to Go Private Falls Apart

Adam Smith

was sinking Thursday following news that its planned merger -- and its plans to become a private company -- fell apart. , announced Wednesday that it was calling of a previously planned merger which would have taken Bluegreen Vacations private at $16 a share and delisted it from the New York Stock Exchange. In early March, BBX Capital had said it planned to take Bluegreen Vacations private through a type of "short-form" merger allowed under Florida state law.