Lennar Launches Exchange Offer of Millrose Stock for Lennar Stock
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 10 2025
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Should l Buy LEN.B?
Source: PRnewswire
Lennar's Exchange Offer: Lennar Corporation is offering to exchange its 20% ownership in Millrose Properties for shares of its own Class A common stock at a 6% discount, with the offer set to expire on November 7, 2025, unless extended or terminated.
Conditions and Registration: The Exchange Offer is contingent on the effectiveness of a registration statement with the SEC, which may be delayed due to the ongoing U.S. federal government shutdown, potentially affecting the offer's completion.
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Analyst Views on LEN.B
Wall Street analysts forecast LEN.B stock price to rise
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Current: 111.820
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Current: 111.820
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Averages
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About LEN.B
Lennar Corporation is a homebuilder and an originator of residential and commercial mortgage loans. The Company is also a provider of title insurance and closing services, and a developer of multifamily rental properties. The Company's segments include Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar others. Its Homebuilding segments primarily 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 its unconsolidated entities. The Company's Financial Services segment primarily provides mortgage financing, title and closing services primarily for buyers of its homes, as well as property and casualty insurance. The Company’s Multifamily segment is involved in the development, construction and property management of multifamily rental properties. its Lennar Other segment includes fund investments.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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