By Denny Jacob
Landsea Homes shares rose 59% in premarket trading following a merger agreement with Lido Holdco.
Shares were trading around $11.18. The stock was down 30% over the past year as of Monday's close.
The Dallas homebuilder said Lido, which is controlled by funds managed by affiliates of Apollo Global Management, and its subsidiary Lido Merger Sub, will conduct a cash tender offer to acquire any and all of the issued and outstanding shares of Landsea's common stock at a price per share of $11.30 in cash.
The offer must be commenced by June 3.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
May 13, 2025 06:49 ET (10:49 GMT)
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