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William Lyon Homes Inc

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BUSINESS
March 24, 2006
William Lyon Homes Inc. said it had formed a special committee of independent directors to consider a $421-million offer from Chief Executive William Lyon, who owns a 48% stake, to buy the rest of the Newport Beach-based company.
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BUSINESS
August 10, 2006 | From Bloomberg News
Home builder William Lyon Homes Inc. won a judge's approval to settle a lawsuit filed by shareholders challenging the fairness of a takeover of the company by its chief executive. William Lyon, who with his family owned about 71% of the Newport Beach-based company, offered $93 a share, or $421 million, in March. After outside shareholders sued, Lyon raised the offer to $100 a share in April and $109 in May, and the case was settled. The purchase was completed July 25.
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BUSINESS
May 6, 2006 | From Reuters
William Lyon Homes Inc., whose chairman and chief executive is trying to buy the company, said first-quarter profit rose 28% as it sold more houses. The home builder said net income was $26.2 million, or $3.02 a share, compared with $20.5 million, or $2.36, a year earlier. The Newport Beach company said revenue increased 25% to $307.4 million. The company said 581 homes closed in the quarter, up 27%, while the backlog of homes sold but not closed fell 14%. New home orders fell 26%.
BUSINESS
June 14, 2006 | From Reuters and Times Staff
Home builder William Lyon Homes said Tuesday that the New York Stock Exchange suspended trading in its common shares, indicating the amount of publicly held stock wasn't sufficient for NYSE trading. The NYSE told the company it intended to ask the Securities and Exchange Commission to delist the stock. William Lyon, chairman of the Newport Beach-based company, said last month that his tender offer for the company's stock had expired. He paid $109 a share for more than 90% of the shares.
BUSINESS
August 10, 2006 | From Bloomberg News
Home builder William Lyon Homes Inc. won a judge's approval to settle a lawsuit filed by shareholders challenging the fairness of a takeover of the company by its chief executive. William Lyon, who with his family owned about 71% of the Newport Beach-based company, offered $93 a share, or $421 million, in March. After outside shareholders sued, Lyon raised the offer to $100 a share in April and $109 in May, and the case was settled. The purchase was completed July 25.
BUSINESS
August 13, 2003 | Bonnie Harris, Times Staff Writer
William Lyon Homes Inc. said Tuesday that its second-quarter profit nearly doubled as the Newport Beach-based builder benefited from a large land sale in the Inland Empire and took in a record number of new-home orders. The company, which sells homes in California, Arizona and Nevada, reported net income of $13.8 million, or $1.38 a share, for the three months ended June 30. That compares with net income of $7 million, or 66 cents a share, a year earlier.
BUSINESS
August 12, 2000
Newport Beach home builder William Lyon Homes Inc. reported that net income fell 19% in the second quarter to $7.7 million, or 73 cents a share, from $9.5 million, or 91 cents a share, a year ago. Net income included extraordinary gains of $496,000 in the recent quarter and $1.8 million a year ago from retirement of debt. Revenue declined to $96.7 million from $96.8 million. Net new home orders fell 3% to 588 units.
BUSINESS
November 6, 1999 | Dow Jones
In a deal that bolsters real estate magnate William Lyon's empire, Presley Cos. purchased home builder William Lyon Homes Inc. for $43 million in cash and the assumption of substantially all of the Newport Beach company's liabilities. Presley shareholders also approved the merger of the company with a unit that will be the surviving corporation, retaining the Presley name. Presley Chairman William Lyon and his son, William H. Lyon, own William Lyon Homes.
BUSINESS
May 2, 2006 | From Bloomberg News
William Lyon, chief executive of William Lyon Homes Inc., raised his offer for the 29% of the company he doesn't control to $275 million and said a special board committee would urge shareholders to accept it. The bid of $109 a share is 8.9% more than Friday's closing price. Lyon owns 48% of the Newport Beach-based company and his family controls an additional 23% through trusts. He bid $82 a share for the rest of the shares in April 2005, which the board rejected in June.
BUSINESS
January 28, 2000 | Daryl Strickland
Newport Beach home builder William Lyon Homes said Thursday that its board has named five new directors to replace four who have resigned and to fill a newly created seat. The overhaul of the now nine-member board follows moves by the company's chairman, William Lyon, and his son, William H. Lyon, to take control of what was formerly called the Presley Cos. In November, Presley bought William Lyon Homes Inc. for $42.9 million, and William Lyon became Presley's chairman.
BUSINESS
May 6, 2006 | From Reuters
William Lyon Homes Inc., whose chairman and chief executive is trying to buy the company, said first-quarter profit rose 28% as it sold more houses. The home builder said net income was $26.2 million, or $3.02 a share, compared with $20.5 million, or $2.36, a year earlier. The Newport Beach company said revenue increased 25% to $307.4 million. The company said 581 homes closed in the quarter, up 27%, while the backlog of homes sold but not closed fell 14%. New home orders fell 26%.
BUSINESS
May 2, 2006 | From Bloomberg News
William Lyon, chief executive of William Lyon Homes Inc., raised his offer for the 29% of the company he doesn't control to $275 million and said a special board committee would urge shareholders to accept it. The bid of $109 a share is 8.9% more than Friday's closing price. Lyon owns 48% of the Newport Beach-based company and his family controls an additional 23% through trusts. He bid $82 a share for the rest of the shares in April 2005, which the board rejected in June.
BUSINESS
March 24, 2006
William Lyon Homes Inc. said it had formed a special committee of independent directors to consider a $421-million offer from Chief Executive William Lyon, who owns a 48% stake, to buy the rest of the Newport Beach-based company.
BUSINESS
August 9, 2005
* William Lyon Homes reported a 42% jump in second-quarter profit to $41 million, or $5.07 a share, from $31 million, or $3.14 a share, in the year earlier period. Homebuilding revenue declined 1.4% to $362.1 million. The Newport Beach firm posted record net home orders of 1,154, up 2% from the previous period. The company forecast full-year earnings at $17.75 to $20 a share, which would be a 14% increase over 2004 results.
BUSINESS
July 26, 2005 | From a Times Staff Writer
William Lyon, the chairman of Newport Beach-based William Lyon Homes, who in April announced a bid to take the company private, on Monday issued a rebuke of the special committee of directors set up to consider the bid. Lyon on April 26 offered $82 a share for the publicly held shares of the home builder. The stock immediately soared above his offering price. On June 20, the special committee rejected the offer as "inadequate." The chairman subsequently withdrew his bid.
BUSINESS
June 21, 2005 | Annette Haddad and Tom Petruno, Times Staff Writers
A special board committee of William Lyon Homes Inc. on Monday rejected as "inadequate" an $82-a-share buyout offer for the company from its controlling stockholder. Wall Street had already decided that the bid was too low, as shares of the Newport Beach-based home builder have been trading more than 10% above the takeover offer price. What's more, stocks of most builders have surged since early May as mortgage rates have fallen. Shares of rivals, including KB Home and Ryland Group Inc.
BUSINESS
June 21, 2005 | Annette Haddad and Tom Petruno, Times Staff Writers
A special board committee of William Lyon Homes Inc. on Monday rejected as "inadequate" an $82-a-share buyout offer for the company from its controlling stockholder. Wall Street had already decided that the bid was too low, as shares of the Newport Beach-based home builder have been trading more than 10% above the takeover offer price. What's more, stocks of most builders have surged since early May as mortgage rates have fallen. Shares of rivals, including KB Home and Ryland Group Inc.
BUSINESS
July 26, 2005 | From a Times Staff Writer
William Lyon, the chairman of Newport Beach-based William Lyon Homes, who in April announced a bid to take the company private, on Monday issued a rebuke of the special committee of directors set up to consider the bid. Lyon on April 26 offered $82 a share for the publicly held shares of the home builder. The stock immediately soared above his offering price. On June 20, the special committee rejected the offer as "inadequate." The chairman subsequently withdrew his bid.
BUSINESS
May 11, 2005 | Annette Haddad
William Lyon Homes reported a 33% jump in first-quarter profit as revenue dipped 3%. The Newport Beach-based home builder said net profit rose to $20.5 million, or $2.36 a share, compared with $15.4 million, or $1.55, a year ago. Revenue fell to $246.7 million from $254.5 million. Net new home orders for the quarter ended March 31 dropped 20% to 873 homes, and the average number of communities fell 14% to 38 from the year before.
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