DENVER BUSINESS JOURNAL - Homebuilder Lennar Corp. on Monday announced plans to acquire rival CalAtlantic Group Inc. in a deal valued at $9.3 billion.
The deal, already approved by each both companies boards of directors, would create a homebuilding giant in control of 240,000 homesites in 49 markets across Colorado and 20 other states.
The two companies are metro Denver's second- and third-largest home builders respectively, ranked by value of homes built last year, according to Denver Business Journal List research.
Miami-based Lennar (NYSE: LEN), now No. 2 in the region, completed homes in the area valued at $441.9 million last year. Its major recent developments include Sierra Ridge in Parker and Orchard Farms in Thornton.
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