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Bluegreen Corporation Signs Definitive Merger Agreement with BFC Financial Corporation

Bluegreen Corporation (NYSE: BXG) (“Bluegreen” or “the Company”)today announced that it has entered into a definitive merger agreement with BFC Financial Corporation (“BFC”) (Pink Sheets: BFCF.PK) which provides for a merger that will, subject to the terms and conditions of the agreement, result in Bluegreen becoming a wholly-owned subsidiary of BFC.

Florida M&A Deals Likely Flat in 2011

Merger-and-acquisition activity in Florida may be flat this year, despite earlier expectations that it would exceed last year’s total