Latham & Watkins Advises Landsea Homes Corporation in Its Acquisition by New Home Co.
New Home Co. (New Home) and Landsea Homes Corporation (Nasdaq: LSEA) (Landsea Homes) have announced that they have entered into a definitive agreement under which New Home will acquire Landsea Homes for US$11.30 per share in an all-cash transaction that represents an enterprise value for Landsea Homes of approximately US$1.2 billion. Upon completion of the transaction, the combined company will be a privately held, top 25 national homebuilder across 10 high-growth markets.
Latham & Watkins LLP represented Landsea Homes in the transaction with a corporate team led by New York/Orange County partner Charles Ruck, and Orange County partners Michael Treska and Darren Guttenberg, with associates Elena Burns, Erik Jensen, David Stepovich, Danny Del Giorno, Ivana Valdez, Alvina Olivier, and Blake LaClaire. Advice was also provided on tax matters by Los Angeles partner Ana O'Brien, with associate Arash Lotfi; on benefits and compensation matters by Los Angeles partner Michelle L.C. Carpenter, with associate Kayla Snyder;* on real estate matters by Los Angeles partner Kim N. A. Boras, with associates Gina Garrett, Alex Sibirzeff, and Milan Amritraj; on environmental matters by Orange County partner Christopher Norton, with associate Kevin Homrighausen; on intellectual property matters by Orange County counsel David Kuiper, with associate Azzam Chaudhry; on regulatory matters by San Francisco partner Joshua Holian; on debt matters by Los Angeles partner Jason Bosworth; on capital markets matters by New York partner Andrew Baker and counsel Gemma Mootoo Rajah, with associate Paul Lau; on activism matters Chicago partner Chris Drewry, with associates Adam Tamzoke and Taylor Ashton; and on litigation matters by San Diego partner Colleen Smith and Century City partner Robert Ellison.
*Admitted to practice in Massachusetts only.