Standard Pacific and Ryland to merge

In a bid to take advantage of an improving housing market, public builders Standard Pacific Homes and Ryland Group have announced a merger, with the combined company owning or controlling 74,000 lots in 17 states.

From an L.A. Times article:

The merger would enable the new operation to save $50 million to $70 million a year, the companies said in a news release issued late Sunday. The combination would increase their geographic reach and ability to construct homes at a variety of price levels, from starter homes to luxury models...

When tallied together, the two companies build houses in 20 of the nation's top 25 metropolitan areas and are among the top five builders in 15 of those areas...

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