It would be difficult to imagine that shareholders would not want to approve the merger that is a bit of surprise this month. Both stocks closed up on April 9 following the news. See the Associated Press story here. Of course, it would be interesting to hear what Del Webb’s homeowners and buyers have thought of the merger between Pulte (NYSE:PHM) and the developer of highly-amenitized Sun Cities back in 2001. That merger took place just as the horrible events of September 11, 2001 had Americans worried about the economy. The timing now seems good for Centex too, and if consolidation keeps these builders healthy that can be good for the economy.
Mergers are just part of the process, and there are still plenty of family-owned and privately-held builders out there who won’t be phased much by this news. It might be a good idea for the larger Pulte/Centex to look for ways to encourage second-home ownership too. There are still more than 77 million baby boomers who would love to retire or get a second home as they ease into retirement, and one good lesson of the housing bubble was that it drove so many other sectors, created jobs and offers a tangible investment people can enjoy or even rent out.
Private Communities Newswire would love to hear from people who live in Del Webb’s communities to see what they think of the merger news, and anyone is invited to weigh in, and comment or take this poll.
