August 10, 2006 |
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.
August 13, 2003 |
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.
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.
November 6, 1999 |
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.
May 2, 2006 |
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.
January 28, 2000 |
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.