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BRIEF-Lennar to acquire WCI Communities

Sept 22 WCI Communities Inc

* Lennar to acquire WCI Communities

* Transaction gives WCI a total equity value of approximately $643 million and an enterprise value of $809 million.

* WCI Communities Inc says transaction has been approved by boards of both Lennar and WCI

* Merger consideration for each WCI share will be $11.75 in cash, fraction of a share of Lennar class a stock with a value of $11.75

* Transaction has been approved by boards of both Lennar and WCI

* Transaction valued at $23.50 per WCI share

* Transaction will be in form of a merger of WCI and a newly formed Lennar subsidiary

* Deal is structured in a manner intended to cause receipt of Lennar stock as a result of merger not to be a taxable event for WCI stockholders Source text for Eikon: Further company coverage:

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