Lennar (LEN) Stock Jumps 6.6% as Millrose Exchange Offer Nears Finish Line — November 25, 2025 Update
Lennar shares jumped 6.6% to $131.06 Tuesday, closing up $8.10 after the company’s Millrose Properties exchange offer was declared oversubscribed. Trading volume reached nearly 12 million, triple the average. Lennar will accept about 8 million tendered shares, exchanging them for 33.3 million Millrose shares at a 4.1367-to-1 ratio. Only 7.97% of tendered shares are expected to be accepted.