Pulte and Centex Homes to Merge to survive
Wow, times are tough we all know, even the biggest of the big builders will continue to struggle to survive.
The deal may create the largest U.S. homebuilder.
According to Pulte CEO Richard J. Dugas Jr. the combination will put both firms "in an excellent position to navigate through the current housing downturn" and "accelerate a return to profitability."..bizjournal
The combined company will use the Pulte name and be based in Bloomfield Hills, Mich., but the firms said a "significant presence" will be maintained in Dallas....bizjournal
NEW YORK (Reuters) - Pulte Homes, the second-largest U.S. homebuilder, said it would buy the third largest, Centex Corp, for $1.3 billion in stock as it looks to save costs and get through the housing downturn. Read full article at Reuters
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