NEW YORK, May 22 (Reuters) - Levitt Corp LEV.N has changed its name to Woodbridge Holdings Corp following approval by shareholders at the May 20 annual meeting, the company said on Thursday.
The company, which is taking the new name to signal its intention to expand beyond real estate, will begin trading under the stock symbol “WDG” on May 27. For the present, its symbol remains “LEV.” The shares trade on the New York Stock Exchange.
In November, Levitt’s home-building unit, Levitt & Sons, filed for bankruptcy protection, reflecting the badly battered Florida real estate market.
When it filed for bankruptcy protection, Levitt & Sons was ranked as the 50th-largest U.S. home builder by trade publication BuilderOnline. The slump in the U.S. housing market could threaten the financial viability of numerous builders, but Florida-centric businesses such as Levitt & Sons are particularly vulnerable. (Reporting by Helen Chernikoff; editing by John Wallace)