LOS ANGELES (AP) — Japan's Sekisui House Ltd. is buying Denver-based homebuilder M.D.C. Holdings Inc. for $4.9 billion in a deal that would make the Japanese company the fifth-largest builder of new homes in the U.S.
The companies said Thursday that they reached a definitive agreement for Osaka-based Sekisui to acquire M.D.C. Holdings for $63 per share.
The all-cash offer translates to a roughly 19% premium over M.D.C. Holdings' closing stock price Wednesday.
Political Cartoons View All 253 ImagesIn addition to the U.S. and Japan, Sekisui House has operations in Australia, the U.K., China and Singapore.
Among the U.S. home construction brands it now operates are Woodside Homes, Holt Homes, Chesmar Homes and Hubble Homes.
Persons:
Toru Tsuji, Sekisui, homebuilders
Organizations:
ANGELES, Sekisui, Holdings Inc, U.S, M.D.C, Holdings, M.D.C . Holdings, . Holdings, Richmond American Homes, Woodside Homes, Holt Homes, Chesmar, Hubble Homes, Residential Holdings
Locations:
Denver, Osaka, California , Florida , Texas, Japan, Australia, China, Singapore, U.S, Woodside, Sekisui