SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
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DEL WEBB CORPORATION
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(Name of Registrant as Specified In Its Charter)
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Del Webb Corporation
October 25, 2000
Statement
Regarding J.F. Shea's Decision to Link Board Make-up with Proposed Acquisition
Del Webb emphasizes that regardless of the outcome of the current proxy battle
with Pacific Partners, Del Webb's Board of Directors has in the recent past, and
will always, evaluate and respond to any viable proposals for a business
combination. In addition, the company will continue to evaluate its strategic
alternatives on a regular basis. This Board has never been opposed to a business
combination and two years ago we were very close to a transaction. Those
discussions were not unilaterally ended by Webb.
Del Webb suggested to Shea in our October 18th letter that our financial
advisers meet. Shea's financial advisers have contacted ours, and a meeting will
be scheduled in the next several days. We are happy to hear that Shea is now
ready to discuss our concerns. To Webb this is the logical next step in the
communication between Shea and Webb.
