Lennar Corp (LEN.N)
22 Nov 2017
* Lennar - to use proceeds from offering to fund portion of cash consideration payable by co in connection with deal between CalAtlantic and co's unit Source text for Eikon: Further company coverage:
Lennar Corp will buy smaller rival CalAtlantic Group Inc for $5.7 billion, creating the largest homebuilder in the United States as it strives to deal with higher land acquisition costs and a tighter labor market.
* Offer represents a 27 pct premium to CalAtlantic's Friday close
* Lennar - if deal terminated under certain conditions, co to pay CalAtlantic $178.7 million fee or CalAtlantic may be required to pay co $178.7 million fee Source text for Eikon: (http://bit.ly/2A0pyo0) Further company coverage:
Lennar Corp trumped estimates for quarterly profit and revenue on Tuesday as both home sales and prices charged by the United States' second largest homebuilder increased, pointing to solid underlying demand in the U.S. housing market.
* Stock up as much as 4.9 pct (Adds details from conference call)
Oct 3 U.S. homebuilder Lennar Corp reported a 5.6 percent rise in quarterly profit on Tuesday, driven by an increase in home sales and higher prices.
U.S. homebuilder Lennar Corp said on Thursday it expects hundreds of home deliveries in Florida, Georgia and South Carolina to be delayed due to the impact of Hurricane Irma that ravaged the Atlantic coast.
Sept 14 U.S. homebuilder Lennar Corp said on Thursday it expects hundreds of home deliveries in Florida, Georgia and South Carolina to be delayed due to the impact of Hurricane Irma that ravaged the Atlantic coast.
* Lennar provides third quarter 2017 new orders and deliveries, as well as an update on recent storms
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