Lennar Corp. (LEN) Declares $0.04 Quarterly Dividend; 0.4% Yield

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Go back to Lennar Corp. (LEN) Declares $0.04 Quarterly Dividend; 0.4% Yield

Lennar Corp. (LEN) to Acquire WCI Communities (WCIC) in ~$643M Deal

September 22, 2016 6:51 AM EDT

Lennar Corporation (NYSE: LEN) and WCI Communities, Inc. (NYSE: WCIC) today announced that they have entered into a definitive merger agreement under which Lennar will acquire all of the outstanding shares of WCI Communities, Inc. ("WCI") common stock in a cash and stock transaction valued at $23.50 per WCI share, representing a 37% premium to WCI's closing stock price on September 21, 2016.

The transaction gives WCI a total equity value of approximately $643 million and an enterprise value of $809 million.

The transaction will be in the form... More