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Lennar Corp (LEN.N)

LEN.N on New York Stock Exchange

42.01USD
2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

WCI Communities says co to pay Lennar fee of $22.5 mln upon termination of merger
Thursday, 22 Sep 2016 08:30am EDT 

WCI Communities Inc : Upon termination of merger agreement under specified circumstances, co will be required to pay Lennar Corp a termination fee of $22.5 million. .If deal is terminated in connection with co entering alternative deal in respect of superior proposal, termination fee payable to Lennar is $11.25 million.  Full Article

WCI Communities Announces Definitive Merger Agreement with Lennar Corp for nearly $643 Mln
Thursday, 22 Sep 2016 06:50am EDT 

WCI Communities Inc : WCI Communities announces definitive merger agreement with Lennar Corporation for approximately $643 million . Transaction would include a portfolio of owned or controlled land totaling approximately 14,200 home sites . Transaction would be in form of a merger of WCI and a newly formed Lennar subsidiary .Says WCI will undertake a 35-day "go-shop" period.  Full Article

Lennar to acquire WCI Communities
Thursday, 22 Sep 2016 06:50am EDT 

WCI Communities Inc : Lennar to acquire WCI Communities . Transaction gives WCI a total equity value of approximately $643 million and an enterprise value of $809 million. . WCI Communities Inc says transaction has been approved by boards of both Lennar and WCI . Merger consideration for each WCI share will be $11.75 in cash, fraction of a share of Lennar class a stock with a value of $11.75 . Transaction has been approved by boards of both Lennar and WCI . Transaction valued at $23.50 per WCI share . Transaction will be in form of a merger of WCI and a newly formed Lennar subsidiary .Deal is structured in a manner intended to cause receipt of Lennar stock as a result of merger not to be a taxable event for WCI stockholders.  Full Article

Lennar reports third quarter EPS of $1.01
Tuesday, 20 Sep 2016 06:00am EDT 

Lennar Corp : Q3 earnings per share $1.01 . Q3 earnings per share view $0.89 -- Thomson Reuters I/B/E/S . Q3 revenue $2.8 billion versus i/b/e/s view $2.68 billion . Qtrly Deliveries Of 6,779 Homes - up 7% . Quarter-End backlog of 9,253 homes - up 12% . Qtrly gross margin on home sales of 22.6%, compared to 24.1% .Lennar corp says average sales price of homes delivered increased to $362,000 in Q3 of 2016 from $350,000 in Q3 of 2015.  Full Article

Lennar wins dismissal of Reis lawsuit alleging data piracy
Tuesday, 5 Jul 2016 04:30pm EDT 

Lennar Corp : Wins dismissal of lawsuit by reis inc alleging data piracy -- court ruling . U.S. district judge George daniels rejects reis' claims under computer fraud & abuse act, and for secondary copyright violations . Reis had accused two Lennar units of downloading real estate market analyses and other reports without permission . Judge, who sits in Manhattan, declines to exercise juridiction over reis' state law claims, and dismisses lawsuit.  Full Article

Lennar amends credit agreement governing unsecured revolving credit facility
Thursday, 30 Jun 2016 05:16pm EDT 

Lennar Corp : Co amended credit agreement governing unsecured revolving credit facility to increase maximum potential borrowings from $1.6 billion to $1.8 billion . Amendment extends maturity of class a lenders' commitments, which are currently $1.3 billion of credit facility, from June 2019 to June 2020 . Class B lenders' commitments, which currently are $160 million, terminate in June 2018 - sec filing .$1.8 billion credit facility includes a $318 million accordion feature, subject to additional commitments.  Full Article

Lennar says higher price communities dragging Houston down
Tuesday, 21 Jun 2016 12:20pm EDT 

Lennar Corp : Backlog includes little bit more of lower price homes, likely to see asp come down into 350s in back half of the year - conf call . Says what's dragging Houston down is the higher price communities - conf call . Says we do see lower demand in higher price points as compared to lower price points but generally still market driven - conf call Further company coverage: [LEN.N] (Bengaluru Newsroom: +1-646-223-8780).  Full Article

Lennar reports Q2 earnings per share of $0.95
Tuesday, 21 Jun 2016 06:00am EDT 

Lennar Corp : Qtrly new orders of 7,962 homes - up 10% . quarter-End backlog of 9,014 homes - up 12% . Average sales price of homes delivered increased to $362,000 in q2 of 2016 from $348,000 in q2 of 2015 . Qtrly deliveries of 6,724 homes - up 12% . Qtrly gross margin on home sales of 23.1%, compared to 23.8% in q2 2015 . Lennar reports second quarter eps of $0.95 . Q2 earnings per share $0.95 . Q2 revenue $2.7 billion versus i/b/e/s view $2.52 billion .Q2 earnings per share view $0.86 -- Thomson Reuters I/B/E/S.  Full Article

Lennar Corp declares quarterly dividends
Wednesday, 13 Apr 2016 04:30pm EDT 

Lennar Corp:Board of Directors has declared a quarterly cash dividend of $0.04 per share for both Class A and Class B common stock.Payable on May 11 to holders of record date as on April 27.  Full Article

Lennar Corp prices $500 mln of senior notes
Friday, 26 Feb 2016 04:44pm EST 

Lennar Corp:Prices $500 million of senior notes.Priced an underwritten public offering of $500 million of 4.750% senior notes due 2021.Says notes will have an interest rate of 4.750% per annum.Notes will pay interest semi-annually on April 1 and October 1, commencing October 1, 2016.  Full Article

BRIEF-WCI Communities provides update on Lennar merger agreement

* WCI Communities announces expiration of "go-shop" period under merger agreement