April 8 (Bloomberg) -- Pulte Homes Inc. agreed to buy Centex Corp. for $1.3 billion in an all-stock deal that creates the largest U.S. homebuilder by revenue and throws each of them a lifeline in the worst housing slump since the 1930s.
Pulte agreed to pay 0.975 of a share for each Centex share, valuing Centex at $10.50, or 38 percent more than yesterday’s closing price, the Bloomfield Hills, Michigan-based company said today in a statement. The transaction, approved by both companies’ boards, includes $1.8 billion in net debt.
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3 comments:
to be honest, I have never heard of Pulte Homes but Centex builds mold-infested, 2nd rate houses that have an enormous amount of problems after the fact. Just ask the nice people in Decatur Farms in Berlin or the people in the Parke in Ocean Pines. Ryan Homes is another worthless bunch. Workers that can't speak English. Check with the homeowners at Franklin Knoll in Berlin. Terrible quality and many problems after they cleared out of there.
I own a centex home but thats ok because all i have to do is get some poles and pitch a tent with jonathan taylors coat and I can live there for months
Pulte Homes.
Wall Street analysts are concerned about the risk .
Pulte Homes
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