Japan builder Sekisui House to buy U.S. peer M.D.C. for $4.95 bil.

Economy

Japanese home builder Sekisui House Ltd. said Thursday it will buy U.S. peer M.D.C. Holdings Inc. for $4.95 billion to meet growing needs for single-family homes in the world’s biggest economy.

Sekisui House said the acquisition will make it the fifth-biggest home builder in the United States, with about 15,000 house closings annually.

The Japanese company said under the deal, it will acquire all outstanding shares of the Denver-based company for $63 per share, adding a 19 percent premium to its closing price Wednesday.

The deal, expected to be completed by the first half of this year, comes a...

Kyodo News

Kyodo News