Japanese Builder Sekisui House to Buy MDC for $4.9 Billion (1)

Japanese homebuilder Sekisui House Ltd. agreed to buy MDC Holdings Inc. in an all-cash transaction with an equity value of $4.9 billion.

MDC shareholders will receive $63 a share, or about 19% more than the closing value on Wednesday, the companies said in a statement Thursday.

The transaction marks the latest move from a Japanese homebuilder to expand in the US market as they seek to diversify. In 2017, Daiwa House Group bought Stanley Martin Communities and Sekisui House agreed to buy Woodside Homes.

The MDC deal will make Sekisui House the fifth-largest homebuilder in the US based on the ...