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.
April 25, 2006 |
The founder and largest stakeholder of William Lyon Homes Inc. said he would extend the deadline for his tender offer to Friday. William Lyon is offering $100 a share to take the Newport Beach-based builder private. He needs 1.1 million shares to be tendered to succeed in his bid. As of last Friday -- his original deadline -- 967,000 had been tendered. Lyon, whose firm builds in California, Arizona and Nevada, also waived the condition that 90% of the shares be submitted.