Century Communities to combine with California home builder

Greenwood Village-based home builder Century Communities intends to merge with a California counterpart.

The Denver Post reports that Century will combine with San Jose-based UCP Inc., in a merger valued at $336 million.Century will pay $5.32 to each UCP shareholder, along with 0.23 shares of newly issued Century common stock for each share they own as part of the transaction. The deal will give UCP shareholders 16.5 percent of the combined company.

Both companies will continue to operate in 117 communities in Colorado and nine other states.

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