Del E. Webb Corp. said 9.1% of...
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Del E. Webb Corp. said 9.1% of its stock has been bought by a Los Angeles investment group, Hecco Ventures. In a filing with the SEC, Hecco said it hopes to take over the company through a merger or tender offer and to seize control of the board by ousting some or all of the company’s current directors. However, Hecco left open the possibility that it would be willing to sell its stake in Phoenix-based Webb back to that company at a premium. Webb, which builds retirement centers and operates casinos, said it had agreed to meet with Hecco officials within two weeks.
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