With the economic downturn threatening the survival of all homebuilders, two of the nation's largest have decided that joining forces will give them the best chance of weathering the storm.
Pulte Homes, Bloomfield Hills, Mich., announced an agreement to merge with Centex Corp., Dallas, in a stock-for-stock transaction valued at $3.1 billion, comprising $1.3 billion in equity and $1.8 billion in debt. The combined company would become the largest homebuilder in the United States.
All access premium subscription
Only Electrical Marketing newsletter subscribers have access to premium content.
Being a subscriber to the Electrical Marketing newsletter allows you exclusive access to high value content including key economic indicators measuring the health of the market and access to the Electrical Price Index and other important industry insights.
Sign up for the Electrical Marketing newsletter to get access.