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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
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
April 11, 2006 | Annette Haddad, Times Staff Writer
William Lyon went on the offensive Monday, bumping up his bid to buy the shares of William Lyon Homes Inc. that he doesn't already own to $100 a share from $93 originally offered last month. The sweetened bid may be enough to finally allow Lyon, the company's chairman and chief executive, to take the Newport Beach-based home builder private. A committee of outside directors recommended Monday that shareholders accept the latest offer, after having told Lyon 10 days earlier to improve his bid.
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
May 9, 2003 | Jesus Sanchez, Times Staff Writer
William Lyon Homes Inc. said Thursday that first-quarter profit soared 57% as the Newport Beach-based home builder benefited from a sharp increase in new-home prices that offset a decline in sales. William Lyon, which sells homes in Arizona, California and Nevada, reported net income of $4.9 million, or 49 cents a share, for the three months ended March 31. That compares with net income of $3.1 million, or 29 cents a share, a year earlier.
BUSINESS
December 30, 1999
Newport Beach home builder Presley Cos. said Wednesday that it will change its name to William Lyon Homes after the close of business Friday. Presley, which is chaired by real estate developer William Lyon, also said its stock ticker symbol will be changed to WLS from PDC on the New York Stock Exchange, effective Monday.
BUSINESS
March 18, 2006 | Annette Haddad, Times Staff Writer
The general hasn't given up the fight. On Friday, for the second time in a year, the founder and chief executive of William Lyon Homes made an unsolicited offer to take the Newport Beach-based real estate developer private. William Lyon, who served as a pilot in the Korean War and later commanded the Air Force Reserve, offered to buy the 51% of the company he doesn't already own for $93 a share. The news sent the shares soaring $23.30, or 31%, to $99.
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