Lennar Corp. has reclaimed its spot as the nation’s largest homebuilder after completing the acquisition of CalAtlantic Group.
Miami-based Lennar (NYSE: LEN) and Virginia-based CalAtlantic (NYSE: CAA) both received shareholder approval for the merger on Monday. The companies said the deal will be effective at 11:59 p.m. Over 99% of shareholders at each company approved the deal.
The deal is valued at $9.3 billion, including $3.6 billion in debt. Each share of CalAtantic may be exchanged for either…