LNR/Lennar Closer to Acquisition of Newhall

MIAMI-Lennar Corp., a national homebuilder, and LNR Property Corp. a national real estate investment, finance and management company, both publicly traded companies based here are closer to their acquisition of The Newhall Land and Farming Co. of California.

Newhall Land has filed a preliminary proxy statement with the Securities and Exchange Commission regarding a meeting of Newhall Land’s unitholders to vote on the Lennar/LNR joint venture’s acquisition of the company.

The proxy statement describes the terms of the Agreement and Plan of Merger, signed July 21 by Lennar, LNR and Newhall Land. The proxy statement also has other information about the proposed acquisition, including details about the required regulatory approvals.