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O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Standard Pacific Acquires Denver Home Builder Writer

August 26, 2000|Dow Jones

Standard Pacific Corp. said it completed its acquisition of Writer Corp., a Denver home builder, after Writer shareholders approved the deal Friday. Standard Pacific, an Irvine-based home builder, said it paid $27.9 million in stock and cash. Standard Pacific also assumed about $37.5 million of Writer's debt. Writer had revenue of $82 million in the last fiscal year. Standard Pacific reported income from continuing operations of $67.6 million, or $2.27 a share, on home-building revenue of about $1.2 billion. Standard Pacific's stock closed Friday at $15.13, off 19 cents a share, on the New York Stock Exchange.

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