William Lyon Homes Announces Formation of Special Committee and Appointment of Advisors
24 Mars 2006 - 2:53AM
Business Wire
William Lyon Homes (NYSE:WLS) (the "Company") announced that its
board of directors has formed a special committee of independent
directors (the "Special Committee") to consider the offer by
General William Lyon ("General Lyon"), Chairman and Chief Executive
Officer of the Company, to purchase all of the outstanding shares
of common stock of the Company not owned by General Lyon, at a cash
purchase price of $93.00 per share, without interest. The members
of the Special Committee are Harold H. Greene (Chairman), Lawrence
M. Higby and Arthur B. Laffer. The Special Committee announced that
it has engaged Morgan Stanley as its financial advisor and Gibson,
Dunn & Crutcher LLP as its legal advisor to assist in its
evaluation of the offer by General Lyon. Stockholders are urged to
read the Company's solicitation/recommendation statement on
Schedule 14D-9 when it is filed with the Securities and Exchange
Commission ("SEC") because it will contain important information.
Investors can obtain a free copy of the Schedule 14D-9 and any
amendments thereto, if and when available, and all other SEC
filings made by William Lyon Homes at www.sec.gov. Certain
statements contained in this release that are not historical
information contain forward-looking statements. The forward-looking
statements involve risks and uncertainties and actual results may
differ materially from those projected or implied. Further, certain
forward-looking statements are based on assumptions regarding
future events which may not prove to be accurate. Factors that may
impact such forward-looking statements include, among others,
changes in general economic conditions and in the markets in which
the Company competes, the outbreak, continuation or escalation of
war or other hostilities, including terrorism, involving the United
States, changes in mortgage and other interest rates, changes in
prices of homebuilding materials, weather, the occurrence of events
such as landslides, soil subsidence and earthquakes that are
uninsurable, not economically insurable or not subject to effective
indemnification agreements, the availability of labor and
homebuilding materials, changes in governmental laws and
regulations, the timing of receipt of regulatory approvals and the
opening of projects, and the availability and cost of land for
future development, as well as the other factors discussed in the
Company's reports filed with the SEC.
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