Pulte Homes, Inc. (NYSE: PHM) and Centex Corporation (NYSE: CTX) announced today that their respective boards of directors have unanimously approved a definitive merger agreement under which Pulte and Centex will combine in a stock-for-stock transaction valued at $3.1 billion, including $1.8 billion of net debt.
Read the full release from Pulte: http://phx.corporate-ir.net/phoenix.zhtml?c=77968&p=irol-newsArticle&ID=1274448
Read more from a joint Centex/Pulte website: http://premierbuilderusa.com/entry.php
Read the breaking news story at Builder Online: http://www.builderonline.com/business/breaking-news-pulte-to-buy-centex.aspx
Read about the financial impact at the Wall Street Journal: http://online.wsj.com/article/BT-CO-20090408-707630.html
Hi Jayson -
Thanks for mentioning the BUILDER (http://www.builderonline.com) story. We and our colleagues at Big Builder (http://www.bigbuilderonline.com) are working on a package of stories about this pending deal, so keep an eye on our respective Twitter accounts (@builderonline and @bigbuilder) and Web sites!