Lennar Launches Exchange Offer of Millrose Stock for Lennar Stock

MIAMI, Oct. 10, 2025 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B) ("Lennar"), one of the nation's leading homebuilders, announced today its offer to exchange the approximately 20% it owns of the total outstanding shares of Millrose Properties, Inc. (NYSE: MRP) ("Millrose") for outstanding shares of Lennar Class A common stock (the "Exchange Offer"). In February 2025, Lennar completed the spin-off of Millrose through a distribution of approximately 80% of Millrose's stock to Lennar stockholders.

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