Lennar Inc buys Florida-focused rival for US$643mln
US housing giant Lennar Inc (NYSE:LEN) is buying rival WCI Communities Inc (NYSE:WCIC) for US$643mln, boosting the latter’s shares.
Stock in WCI rose 37% in pre-market trade after Lennar agreed to pay US$23.50 per share for WCIC on a 50/50 cash and share basis.
Lennar said the deal would allow it to capture more of the market in homeowners upgrading to bigger properties.
Chief executive Stuart Miller said WCI’s land portfolio would fit well with its own business in Florida.
“Our combined presence in the premier coastal Florida markets will drive growth,” he said.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/166322/lennar-inc-buys-florida-focused-rival-for-us643mln-166322.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).