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Tri Pointe Homes Expands Its Reach

 (Image source: Tri Pointe)

Tri Pointe Homes Inc (NYSE:TPH) will acquire Weyerhaeuser Company’s (NYSE:WY) homebuilding business unit for $2.7 billion. As a result of the deal, Tri Pointe will be among ten biggest homebuilders in the U.S. Under the terms of the deal, shareholders of Weyerhaeuser will get 130 million shares of Tri Pointe and control 80.5 percent of the merged company. The deal would allow Weyerhaeuser to focus on its core business, which is timber. On the other hand, Tri Pointe would be in control of more than 27,000 lots and gain access to markets in California and the southwest.  Tri Pointe’s stock is trading above 13 percent on the news.