LENNAR CORPORATION (NYSE:LEN) Files An 8-K Other Events
Item 8.01 Other events.

On February 10, 2017, Lennar Corporation (the “Company”) completed the acquisition of WCI Communities, Inc. (“WCI”) through a transaction in which a wholly-owned subsidiary of the Company was merged into WCI, and, as a result of that merger, WCI became a wholly-owned subsidiary of the Company. The Company elected to pay the entire merger consideration in cash. Accordingly, former WCI stockholders received $23.50 in cash for each share of WCI common stock they held immediately before the merger became effective. The sum paid, or expected to be paid, by the Company to former WCI stockholders, as well as to holders of shares or units issued under WCI employee incentive plans, totaled approximately $643 million.

In connection with the merger, the Company agreed to become a co-issuer with regard to WCI’s 6.875% Senior Notes due 2021, of which $250 million principal amount are outstanding. As a co-issuer, the Company has the same obligations with regard to the 6.875% Senior Notes that it would have if it had been the original issuer. The Indenture relating to the 6.875% Senior Notes, as well as the Supplemental Indentures relating to the 6.875% Senior Notes, including the Third Supplemental Indenture by which the Company agreed to become a co-issuer, have been filed by WCI with the Securities and Exchange Commission.

About LENNAR CORPORATION (NYSE:LEN)

Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily. Its Homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development and sale of residential land directly and through unconsolidated entities in which it has investments. The Lennar Financial Services segment operations include mortgage financing, title insurance and closing services for its homebuyers and others. The Rialto segment operations include commercial real estate, investment management and finance company. The Lennar Multifamily segment develops a portfolio of institutional multifamily rental properties in select the United States markets.

LENNAR CORPORATION (NYSE:LEN) Recent Trading Information

LENNAR CORPORATION (NYSE:LEN) closed its last trading session up +1.62 at 46.81 with 2,926,629 shares trading hands.