The New Home Company, headquartered in Irvine, California, is set to acquire Dallas-based Landsea Homes for $1.2 billion cash. This all-cash deal will enable the new entity to be among the top 25 homebuilders across several states, including Texas, Arizona, California, and Florida. Apollo Global Management, a major shareholder of New Home, is injecting $650 million in equity for the transaction. Despite Landsea's first-quarter net loss, its stock surged following the announcement, reflecting investor confidence in the merger's potential.
"New Home Company is acquiring Landsea Homes in a $1.2 billion cash deal, positioning itself as a top homebuilder in multiple key states."
"Apollo Global Management plays a significant role in the acquisition, providing $650 million in equity to facilitate the transition to private ownership."
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