MDC to be Acquired by Sekisui House for $4.9B, Stock Gains [Yahoo! Finance]
SEKISUI HOUSE LTD S/ADR (SKHSY)
NASDAQ:AMEX Investor Relations:
sekisuihouse.co.jp/english/financial/index.html
Company Research
Source: Yahoo! Finance
A wholly-owned subsidiary of Sekisui House has signed a definitive agreement to acquire MDC in an all-cash transaction with an equity value of $4.9 billion. MDC shareholders will receive $63.00 per share in cash, which represents an approximately 19% premium to MDC's closing stock price on Jan 17 and an approximately 41% premium to MDC's 90-day volume-weighted average trading price, subject to the terms and conditions of the agreement. The acquisition is expected to close in the first half of 2024. Post buyout, MDC will help accelerate Sekisui House's global vision to "make home the happiest place in the world" and achieve the latter's target of supplying 10,000 homes outside Japan by fiscal 2025. Sekisui House will be the fifth largest U.S. housebuilder (based on the number of houses closed in 2022). A Look at MDC's Growth & Prospects For more than 50 years, MDC has completed the construction of more than 240,000 homes and has emerged as a top 10 homebuilder in the United Sta
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