Goodwin represented Lennar Corporation (NYSE: LEN and LEN.B) in its announced definitive merger agreement with WCI Communities, Inc. (NYSE: WCIC) under which Lennar will acquire all of the outstanding shares of WCI Communities’ 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.
Lennar Corporation, founded in 1954, is one of the nation's largest builders of quality homes for all generations. The company builds affordable, move-up and retirement homes primarily under the Lennar brand name.
WCI Communities is a lifestyle community developer and luxury homebuilder of single and multi-family homes, including luxury high-rise tower units, in most of coastal Florida's highest growth and largest markets.
For more information on the transaction, please view the joint press release.