Lennar Corp (LEN.N)
2 Dec 2016
Thu, Oct 27 2016
* WCI Communities announces expiration of "go-shop" period under merger agreement
* LMC, its wholly owned subsidiary, received an additional $250 million commitment to its Lennar Multifamily venture Source text for Eikon: Further company coverage:
Lennar Corp , the No. 2 U.S. homebuilder, said it would buy fellow Florida-based homebuilder WCI Communities Inc for about $643 million, boosting its land bank in one of the fastest improving housing markets in the United States.
* WCI has 35 days to shop for a higher offer (Adds details, analyst quote; updates shares)
* Upon termination of merger agreement under specified circumstances, co will be required to pay Lennar Corp a termination fee of $22.5 million.
* WCI Communities announces definitive merger agreement with Lennar Corporation for approximately $643 million
Sept 22 Lennar Corp, the second-largest U.S. homebuilder, said on Thursday it would buy luxury home builder WCI Communities Inc in a deal valued at $643 million.
Lennar Corp , the second-largest U.S. homebuilder, cut its gross margin forecast for the fourth quarter due to rising land and labor costs, problems that could weigh on rivals such as PulteGroup Inc as well.
* U.S. Aug. housing starts fall - data (Adds details from conference call; updates shares)
Sept 20 U.S. homebuilder Lennar Corp reported a 13.7 percent rise in quarterly revenue, boosted by strong home sales and higher prices.