Landsea Homes jumps on $1.2 billion go-private deal
ReutersMay 13, 2025 10:50 AM
Shares of homebuilder Landsea Homes LSEA.O rise 59.4% to $11.18 premarket
New Home Co. is buying LSEA for $11.30/share in cash in deal worth about $1.2 bln, cos said late on Monday
New Home Co. is backed by Apollo Global Management APO.N, which is providing $650 mln in new cash equity
LSEA shareholders will get 61% premium on stock's closing price on Monday
Deal expected to close in Q3 2025, after which LSEA will be taken private
Separately, co on Monday reported Q1 adj. loss of 5 cents/share vs profit of 10 cents/share a year ago
As of last close, stock down 17.4% YTD
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