PUTTING STOCK IN THE SPREAD Pulte Homes announced yesterday it will swallow up Dallas-based Centex for $1.3 billion in devalued stock. The new Pulte Homes, based in Michigan, will be the country’s largest homebuilder — with twice the revenue of its nearest competitor. Together, the two combined sprawling companies are building in 31 separate Houston-area developments, but only 3 of them are inside Beltway 8. All but 4 of the rest lie beyond Highway 6. [Houston Business Journal]