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Lennar to acquire CalAtlantic for $5.7B

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Lennar Corp. agreed to purchase CalAtlantic Group Inc. in a deal valued at $5.7 billion.

According to The Wall Street Journal, the combination would create the largest home builder by revenue in the United States.

The proposed purchase price represents a 27 percent premium on CalAtlantic's shares based on its closing price Friday.

Read more from The Wall Street Journal.

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