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Stock Market & Financial Investment News

News Breaks
July 10, 2014
16:04 EDTMTHMeritage Homes to acquire Legendary Communities for $130M
Meritage Homes Corporation announced its definitive agreement to acquire the homebuilding assets and operations of Atlanta-based Legendary Communities for a purchase price of approximately $130M. Legendary is one of the largest privately-held homebuilders operating along the I-85 corridor of the southeastern U.S. with a significant presence in the Atlanta and Greenville-Spartanburg markets, and a position in Charlotte. Both Atlanta and Greenville-Spartanburg will be new markets for Meritage, while Legendary’s Charlotte operations will be combined into Meritage’s existing division there. Legendary was founded in 2009 and builds homes primarily for first and second move-up buyers with base home prices ranging from approximately $120K-$550K. Legendary closed approximately 500 homes and generated approximately $156M of revenue in 2013. As of June 30, Legendary owned or controlled approximately 4,000 home sites.
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February 24, 2015
08:34 EDTMTHMeritage Homes reports 606 home orders in January
Meritage Homes is providing certain details regarding the company’s total home orders for the month of January. Orders for 606 homes in January were 48% greater than the 409 orders for January 2014, resulting from a 20% increase in average orders per community and a 24% increase in average actively selling communities. All three operating regions increased January home orders and average orders per community: West region orders increased 39% with a 31% increase in average orders per community; Central region orders increased 6% with a 22% increase in average orders per community, including a 15% increase in Houston’s average orders per community; East region orders increased 146%, primarily due to the addition of Atlanta and Greenville markets in August 2014, combined with increased orders per community for Florida, Tennessee and North Carolina.
February 20, 2015
15:23 EDTMTHMeritage Homes management to meet with JPMorgan
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