Pulte Homes Inc. agreed to acquire Centex Corp. Wednesday in a stock-for-stock deal valued at $1.3 billion that will create the nation's largest homebuilding company.
Pulte President and Chief Executive Officer Richard J. Dugas Jr. was optimistic that the combination "puts us in an excellent position to navigate through the current housing downturn."
The combined company will use the Pulte name and will be based in Bloomfield Hills, Michigan, the current headquarters of Pulte. Upon completion of the transaction, Dugas will assume the positions of chairman, president and chief executive officer of Pulte Inc.
This article is very timely and relevant. As I quote Cameron Muir, an economist, "Home sales are unlikely to fall much further..That being said we expect home sales not to decline much further."
ReplyDeleteBut it's never too late, with the right business plan set up, it will lead to valuable outcome. This is what most counselors would give as an advise.
I agree. Out of adversity comes opportunity and smart business people will be positioning themselves to take advantage of the market when it turns.
ReplyDelete