BANKING

Barnett Banks, First Florida to Merge: Jacksonville-based Barnett Banks Inc., Florida’s largest bank, said it plans to take over Tampa-based First Florida Banks Inc. in a deal valued at $885 million, which analysts called a high-priced move to keep rivals at bay. The proposed stock swap would boost Barnett’s assets to more than $38 billion, pushing it well ahead of rival Atlanta-based Suntrust Banks Inc. as the nation’s 17th-largest bank. The company valued the deal at $885 million, based on Barnett’s closing stock price Friday, but based on Monday’s closing price it would be closer to $810 million.