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BLOOMFIELD HILLS, Mich., and DALLAS – Pulte Homes and Centex Corp. announced last week a 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.
In 2008, Pulte and Centex delivered more than 39,000 closings with combined revenues of $11.6 billion. The combined company will have the strongest liquidity position among its peer group with more than $3.4 billion of cash as of March 31, 2009, a news release said.
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