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Standard Pacific Corp. And Ryland Group Inc. Agree To Merger

  

(AP) - Standard Pacific Corp. and Ryland Group Inc. have agreed to merge in an all-stock transaction that will create a single homebuilder with operations in 17 states.

The two California-based homebuilders say their boards of directors have unanimously agreed to go forward with "a merger of equals" that would form a company with an equity market capitalization of about $5.2 billion.