Sekisui House, Ltd., and M.D.C. Holdings, Inc. (MDC) announced a definitive agreement pursuant to which a wholly-owned subsidiary of Sekisui House will acquire MDC in an all-cash deal with an equity value of $4.9 billion. MDC shareholders will receive $63.00 per share in cash. Larry Mizel and David Mandarich and certain of their respective affiliates and estate planning vehicles, who beneficially own approximately 21.2% of MDC's shares, have entered into an agreement to vote in favor of the transaction.
Sekisui House is a top-tier house manufacturer in Japan, engaging in custom detached houses, rental housing, architectural/civil engineering, remodeling, real estate management, houses for sale, condominiums, urban redevelopment and overseas business.
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