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BREAKING NEWS

Lennar to buy CalAtlantic Group in about $9.3 billion deal

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Lennar to buy CalAtlantic Group in about $9.3 billion deal

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(Reuters) – Lennar Corp <LEN.N> said it would buy smaller rival CalAtlantic Group Inc <CAA.N> in a deal valued at about $9.3 billion (£7 billion), including debt, creating the nation’s largest homebuilder. Each share of CalAtlantic stock will be exchanged for 0.885 shares of Lennar Class A common stock, Lennar said on Monday.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Martina D’Couto)
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