Advertisement
YOU ARE HERE: LAT HomeCollectionsWilliam Lyon Homes Inc
IN THE NEWS

William Lyon Homes Inc

FEATURED ARTICLES
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.
ARTICLES BY DATE
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.
Advertisement
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
April 25, 2006 | Annette Haddad
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.
BUSINESS
May 16, 2006 | From Times Staff and Bloomberg News
The chief executive of Newport Beach-based home builder William Lyon Homes Inc. on Monday said his buyout offer was successful. William Lyon said his $109-a-share offer, made May 1, gave him at least a 90.6% stake in the company. That was enough to complete a takeover, Lyon said. Lyon, who has said he plans to take the company private, said shareholders could tender their shares at $109 until midnight New York time Wednesday. A final count of those tendered will be available Thursday.
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
April 25, 2006 | Annette Haddad
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.
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
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 16, 2006 | From Times Staff and Bloomberg News
The chief executive of Newport Beach-based home builder William Lyon Homes Inc. on Monday said his buyout offer was successful. William Lyon said his $109-a-share offer, made May 1, gave him at least a 90.6% stake in the company. That was enough to complete a takeover, Lyon said. Lyon, who has said he plans to take the company private, said shareholders could tender their shares at $109 until midnight New York time Wednesday. A final count of those tendered will be available Thursday.
BUSINESS
August 6, 2005 | From a Times Staff Writer
Four directors at William Lyon Homes resigned from the company's board because of disagreements with its chairman surrounding his failed buyout offer for the Newport Beach-based home builder, the company said Friday. The four directors, among other things, took issue with statements by Chairman William Lyon that a special board committee reviewing the offer had restricted the company's investment banking firm "from engaging in any meaningful dialogue" on the bid, the company said.
Los Angeles Times Articles
|