1. | Why are Pulte and Centex combining? | |
The combination of Pulte and Centex creates the largest homebuilding company in the United States with more than 39,000 closings and combined revenues of $11.6 billion in calendar year 2008. In addition to our complementary product offerings and broad geographic presence, both organizations share values, culture and a commitment to meeting the demands of our customer base. We believe that, together, Pulte and Centex are in an excellent position to navigate through the current housing downturn with an unmatched platform for sustainability and growth. | ||
2. | Who is Centex? | |
Dallas-based Centex, founded in 1950, is one of the nations leading home building companies. Its leading brands include Fox & Jacobs Homes and Centex Homes. In addition to its home building operations, Centex also offers mortgage, title and insurance services. Centex has ranked among the top three builders on FORTUNE magazines list of Americas Most Admired Companies for nine straight years and, along with Pulte, is an industry leader in quality and customer satisfaction. We have maintained a healthy level of competition with them for years. | ||
3. | Why is this transaction good for customers? | |
This transaction is a significant win for our customers, because the combination of Pulte and Centex unites two very similar corporate cultures that share a strong commitment to customer satisfaction. In fact, Pulte and Centex are the industrys recognized leaders in customer satisfaction. We are the only homebuilders to have received the Platinum Award from J.D. Power & Associates for excellence in customer satisfaction. The combination of Pulte and Centex will offer exceptional homes in well-designed communities that meet the desires of a cross-section of customers, ranging from first-time buyers to Baby Boomers. Fox & Jacobs Homes, Centex Homes, Pulte Homes, DiVosta Homes and Del Webb are all top brands known by entry level, first move-up, second move-up and active adult purchasers throughout the nation. | ||
This transaction will provide our customers a stronger company that meets their needs from first time owners to retirees and from Florida to California. We look forward to working with the combined Pulte and Centex team to continue providing outstanding service and enhanced offerings to our customers. | ||
4. | How long before the transaction closes? What approvals are required? | |
We expect the transaction to close in the third quarter of 2009, subject to receipt of necessary approvals from regulators and both companies shareholders. | ||
5. | What can customers expect in the interim? | |
Between now and closing, it will remain business as usual at Pulte. Your day-to-day customer contacts will remain the same, and we expect the transition to be seamless to you. We intend to continue to focus on delivering quality and value while exceeding your expectations. |
6. | What will happen to the home Ive purchased? | |
Nothing will change. We continue to be committed to providing you with the best quality product and the highest level of customer service. | ||
7. | Where can I find additional information? | |
If you have additional questions, please feel free to contact your local Pulte representative. A website on the merger has been created. Go to www.premierbuilderusa.com for more information. |