PRESS DIGEST - Wall Street Journal - June 26
June 26 The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
April 11 Century Communities Inc
* Century Communities and UCP agree to business combination
* Combined company will have an equity market capitalization of over $700 million and an enterprise value of over $1.3 billion
* Century Communities - in merger, each share of UCP common stock will be converted into right to receive $5.32 in cash, 0.2309 of newly issued share of century common stock
* Combined company will own or control approximately 25,000 lots and will have a backlog in excess $450 million
* Century Communities - merger expected to be accretive to company's 2018 EPS as result of revenue and cost synergies and economies of scale
* Transaction has been unanimously approved by board of directors of both Century and UCP
* Century Communities - will fund cash portion of merger with available borrowing capacity under its $400 million senior unsecured credit facility
* J.P. Morgan Securities Llc served as financial advisor to Century; Citi acted as financial advisor for UCP Source text for Eikon: Further company coverage:
MEXICO CITY, June 25 Tropical Storm Dora, located off the western coast of Mexico in the Pacific Ocean, is strengthening quickly and is expected to become a hurricane on Monday, the U.S. National Hurricane Center (NHC) said on Sunday.
June 26 Takata Corp has 1.7 trillion yen ($15.27 billion) in liabilities - Jiji, citing Tokyo Shoko Research estimate