Company: LEN
Filing Date: 2025-10-10
Form Type: SC TO-I
Source: 0001193125-25-236510
Chunk: 0

Company: LENNAR CORP /NEW/
Filing Date: 2025-10-10
Form: SC TO-I
Chunk 0
---
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE TO TENDER OFFER STATEMENT UNDER SECTION 14(D)(1) OR 13(E)(1) OF THE SECURITIES EXCHANGE ACT OF 1934 Lennar Corporation (Name of Subject Company (Issuer) and Filing Person (Offeror)) Class A Common Stock, par value $0.10 per share (Title of Class of Securities) 526057104 (CUSIP Number of Class of Securities) Katherine Lee Martin Lennar Corporation 5505 Waterford District Drive, Miami, Florida 33126 Telephone: (305) 559-4000 (Name, address and telephone number of person authorized to receive notices and communications on behalf of filing persons) Copies to: Craig B. Brod Lillian Tsu Shuangjun Wang Cleary Gottlieb Steen & Hamilton LLP One Liberty Plaza New York, New York 10006 212-225-2000

| ☐ | Check the box if the filing relates solely to preliminary communications made before the commencement of a 
 tender offer.                                                                                              |

Check the appropriate boxes below to designate any transaction to which the statement relates:

| ☐ | third party tender offer subject to Rule 14d-1. |

| ☒ | issuer tender offer subject to Rule 13e-4. |

| ☐ | going private transaction subject to Rule 13e-3. |

| ☐ | amendment to Schedule 13D under Rule 13d-2. |

Check the following box if the filing is a final amendment reporting the results of the tender offer: ☐ If applicable, check the appropriate box(es) below to designate the appropriate rule provision(s) relied upon:

| ☐ | Rule 13e-4(i) (Cross-Border Issuer Tender Offer) |

| ☐ | Rule 14d-1(d) (Cross-Border Third-Party Tender Offer) |

This Issuer Tender Offer Statement on Schedule TO (this “Schedule TO”) is filed
by Lennar Corporation, a Delaware corporation (“Lennar”). This Schedule TO relates to the offer by Lennar to exchange up to an aggregate of 33,298,764 shares of Class A common stock of Millrose Properties, Inc., a Maryland
corporation (“Millrose”), par value $0.01 per share (“Millrose Class A Common Stock”), for outstanding shares of Class A common stock of Lennar, par