JMP Securities Downgrades Ryland Group (RYL) to Market Perform
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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 EDTIRVINE 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
