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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Redhead who wrote (4402)	5/6/1998 8:54:00 AM
From: Oliver Pepper	Respond to of 29382

DHI still growing! Press Releases .. D.R. Horton, Inc. to Acquire Leading Builder in Louisville, Kentucky May 6, 1998 08:30 AM ARLINGTON, Texas, May 6 /PRNewswire/ -- D.R. Horton, Inc. DHI Wednesday (May 6, 1998) announced it reached an agreement in principal to acquire the assets of Mareli Development & Construction Company, LLC. Mareli is engaged in the construction and sale of high-quality, single-family homes targeted for the entry-level and move-up markets. In 1997, Mareli was the second largest homebuilder in Louisville, Kentucky. In the latest twelve months, Mareli closed 92 homes, generating revenues of approximately $10 million. Donald R. Horton, Chairman and President, said, "We are very excited about the prospects of combining the operations of Mareli and D.R. Horton, Inc. Mareli has a great reputation, a proven track record of profitability, an excellent land position with control of approximately 500 lots, and is poised to increase its share of the Kentucky market with the benefit of our capital base. Mareli also has an excellent management team and will complement our geographic diversity. The acquisition is subject to various conditions and approvals, and should close within the next two weeks." D.R. Horton, Inc. is engaged in the construction and sale of high-quality, single-family homes with custom features designed principally for the entry- level and move-up markets. The Company currently builds and sells homes in 21 states and 36 markets, with a geographic presence in the Midwest, Mid-Atlantic, Southeast, Southwest, and Western regions of the United States. SOURCE D.R. Horton, Inc. Top Terms of Use, and Privacy Policy. c 1996-98 Microsoft Corporation and/or its suppliers. All rights reserved. c 1998 PR Newswire. All rights reserved.