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Standard Pacific Corp. Announces Preliminary Discussions with TOUSA, Inc.
Posted by: gurufocus (IP Logged)
Date: December 19, 2008 04:01PM
Press Release: Standard Pacific Corp. Announces Preliminary Discussions with TOUSA, Inc.
"Although the homebuilding industry is experiencing challenges at thistime, we believe that there may be attractive land and corporate opportunitiesworth considering. We continuously review acquisition and other strategicopportunities which could enhance value for our stockholders. To this end,the Company is engaged in preliminary discussions and the exchange ofinformation with TOUSA, Inc. regarding a possible transaction. There can be noassurances that any transaction will occur, or as to the timing, structure orterms of any transaction. That said, the Company does not anticipate havingany further comment unless and until a definitive agreement for a transactionis reached."
Standard Pacific Corp., one of the nation's largest homebuilders, hasbuilt homes for more than 103,000 families during its 42-year history. TheCompany constructs homes within a wide range of price and size targeting abroad range of homebuyers. Standard Pacific operates in many of the largesthousing markets in the country with operations in major metropolitan areas in
Contact: Andrew H. Parnes, Executive Vice President-Finance & CFO (949) 789-1616, firstname.lastname@example.org or Lloyd H. McKibbin, Senior Vice President & Treasurer (949) 789-1603, email@example.com. Press Inquiries: Joele Frank or Andrea Priest, Joele Frank, Wilkinson Brimmer Katcher (212) 355-4449
Stocks Discussed: SPF, TOA,