Westlake Village home builder Ryland Group Inc. and Irvine-based home builder Standard Pacific Corp. will be known as CalAtlantic Group Inc. once their previously announced merger is complete, the companies announced Monday. The combined company, which will have a $5.2 billion market capitalization as the country’s fourth-largest residential home developer, will operate in 41 markets across 17 states. Its stock will be traded on the New York Stock Exchange under the ticker symbol CAA. The proposed merger, which was announced on June 14, is expected to close later this year. “A new name reflects a new chapter in the history of our two iconic homebuilding companies. The CalAtlantic Homes name points to the breadth of the new company’s footprint expanding from coast to coast and all points in between,” said Ryland Chief Executive Officer Larry Nicholson in a prepared statement. In addition to the name CalAtlantic Group Inc., the combined company will be identified to consumers as CalAtlantic Homes, CalAtlantic Mortgage, CalAtlantic Title and CalAtlantic Insurance.
