KeyBanc Upgrades Ryland Group (RYL) to Sector Weight

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Go back to KeyBanc Upgrades Ryland Group (RYL) to Sector Weight

Standard Pacific Corp. and The Ryland Group, Inc. Announce Merger of Equals Creating America's Fourth Largest Homebuilding Company

June 14, 2015 8:00 PM EDT

IRVINE and WESTLAKE VILLAGE, Calif., June 14, 2015 /PRNewswire/ -- Standard Pacific Corp. (NYSE: SPF) and The Ryland Group, Inc. (NYSE: RYL) today jointly announced that their respective boards of directors have unanimously approved a definitive merger agreement pursuant to which Standard Pacific and Ryland will combine in a merger of equals to create a single company that would have an equity market capitalization of approximately $5.2 billion, an enterprise value of approximately $8.2 billion, and would own or control approximately 74,000 homesites.  In the 12 months ended March 31, 2015, the pro forma... More