Standard Pacific and The Ryland Group complete a merger.

Standard Pacific homes builder and The Ryland Group, mortgage-finance provider complete a merger. Standard Pacific stockholders will own approximately 59% and Ryland shareholders will own approximately 41% of the combined company. Companies will create CalAtlantic Homes. "Combining two industry leaders with nearly 100 years of homebuilding experience between them puts us in a strong position to benefit from the continued housing market recovery. With this merger we gain both geographic and product diversification, expanding our reach and enhancing our growth prospects in the entry level, move-up and luxury market segments. Together, we will build homes in 20 of the top 25 MSAs in the United States and will enjoy top 5 market share in 15 of these MSAs." Scott Stowell Standard Pacific President and Chief Executive Officer.