Lennar Makes Deal for CalAtlantic as Home Builders Face Challenges
New York Times
By Chad Bray and Matthew Goldstein
The home-building sector in the United States has faced an array of challenges, including natural disasters, a long-running labor shortage and increased regulatory costs. Now, two of the nation’s biggest residential-construction companies are merging in hopes that their combined heft will help them counter those forces. The Lennar Corporation said on Monday that it would merge with the CalAtlantic Group to form America’s largest home builder in a stock-and-cash deal worth $5.7 billion. The deal would create a behemoth with around 240,000 building plots in 21 states, a market value of about $18 billion and combined revenue of $17 billion over the past 12 months.
About author
You might also like
For Frontier Enterprises, a Muted Entry into Medical Marijuana in Adelanto
By Shea Johnson – The massive medical marijuana park that broke ground Thursday, in an up-the-ante signal of this industry’s transformative powers, is backed by an unlikely company. Frontier Enterprises,
Homebuilder Confidence Up
The NAHB Homebuilder Confidence Index moved up to 58 in November from 54 in October which marks the second-highest figure since the peak of the market in 2005. Builders nationally
Most Influential 2016: Emile Haddad is an Esteemed Builder Who Escaped Civil War
As the bombs fell, Emile Haddad would zone out, imagining he was on a far-off beach instead of in the middle of Lebanon’s civil war. That was in the 1970s,
