The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: Travis_Bickle	1/18/2008 4:56:58 PM
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Dominion Homes Inc. a home builder that's been hit hard by the housing slump, after Friday's closing bell said it has entered into an agreement to be acquired by a buyout group for 65 cents a share. The group consists of companies affiliated with Angelo Gordon & Co., Silver Point Capital and Dominion's largest shareholder, BRC Properties Inc. Dominion's chief executive and also a principal at BRC Properties, Douglas Borror, will stay on as CEO and chairman. Dominion's shareholders, not including the buyout group, would receive 65 cents a share in cash or a 38% premium over the closing price on Jan. 17, according to a statement. The deal is expected to close in the first half of 2008. marketwatch.com

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