Exclusive: Tri Pointe nears $2.7 billion deal for Weyerhaeuser unit: sources

Tri Pointe Homes Inc (TPH.N) is near a deal to buy Weyerhaeuser Co's (WY) homebuilding division for about $2.7 billion, which would make it one of the 20 largest homebuilders in the United States, two people familiar with the matter said on Sunday. Tri Pointe shares have risen more than 9 percent since Reuters first reported on October 21 that the homebuilder, which is backed by Barry Sternlicht's Starwood Capital Group LLC, was in advanced discussions to buy the Weyerhaeuser unit for around $2.7 billion and was trying to finalize an agreement within two weeks. Shareholders of Weyerhaeuser are expected to own 80.5 percent of the merged company and Tri Pointe shareholders would own the remaining 19.5 percent, one of the people added. Representatives for Tri Pointe did not immediately respond to requests for comment, while Weyerhaeuser and Starwood Capital declined to comment.



via Business News - Yahoo Finance http://finance.yahoo.com/news/exclusive-tri-pointe-nears-2-230235252.html