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PulteGroup founder dies

PulteGroup Inc. founder William Pulte died at 85 years old, according to a company release.

Pulte served as chairman and president of the homebuilder when it went public in 1969 and retired from the company in 2010.

A spokesperson said the Pulte family has commenced a long-planned transition. Pulte's grandson Bill Pulte is a member of the company's board.