Tousa, Standard Pacific in preliminary 'transaction' talks

By Caroline Salls

Pittsburgh, Dec. 19 - Tousa, Inc. is in preliminary talks with Standard Pacific Corp. on a "possible transaction," according to a Standard Pacific news release.

"Although the homebuilding industry is experiencing challenges at this time, we believe that there may be attractive land and corporate opportunities worth considering," Standard Pacific said in the release.

"We continuously review acquisition and other strategic opportunities which could enhance value for our stockholders. To this end, the company is engaged in preliminary discussions and the exchange of information with Tousa, Inc. regarding a possible transaction."

Tousa, a Hollywood, Fla.-based homebuilder, filed for bankruptcy on Jan. 29, 2008 in the U.S. Bankruptcy Court for the Southern District of Florida. Its Chapter 11 case number is 08-10928.

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