Lennar and CalAtlantic Finalize Merger, Now Officially Nation's Largest Homebuilder
Miami Agent Magazine (Feb. 13) confirms that Lennar's previously announced merger has succeeded, making CalAtlantic a wholly-owned subsidiary. The merger was approved by 99.4 percent of the Lennar stockholder votes and 99.9 percent of the CalAtlantic votes. "We are extremely pleased to announce the completion of this strategic combination with CalAtlantic, creating the nation's leading homebuilder," declared Lennar CEO Stuart Miller. "This combination benefits from overall economic strength, driven by low unemployment, rising wages, favorable tax reform, higher consumer confidence, and strong housing demand." Lennar will now own or control nearly 250,000 home sites and be actively selling homes in approximately 1,300 residential communities throughout 21 states.
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