NEWHALL LAND DROPPED BY N.Y. STOCK EXCHANGE.Byline: Daily News VALENCIA - After 34 years as a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. , The Newhall Land and Farming Company The Newhall Land and Farming Company is a land management company based in Valencia, California, United States. The company is responsible for the master community planning of Valencia, as well as the management of farm land elsewhere in the state. was dropped Wednesday from the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , a day after the development company was acquired by a Florida partnership. Lennar Corp., one of the nation's largest home builders, and LNR LNR Local Nature Reserve (United Kingdom) LNR Last Number Redial LNR London News Radio LNR Left/Node/Right (in order binary tree traversal in computer programming) LNR Local Negotiated Rate Property Corp., a leading commercial real estate firm, inked the deal Tuesday in their joint $1 billion purchase of Newhall Land. The sum marked a payout of $40.50 per unit for Newhall Land stockholders. ``It's a done deal,'' Marlee Lauffer, Newhall Land's vice president of corporate communications, said Tuesday. Lennar officials, based in Miami, say little will change at Newhall Land, including the longtime Valencia-based company's name. The planned acquisition was announced in July and sealed last week when the California Public Utilities Commission The California Public Utilities Commission (CPUC; also often commonly referred to as simply the PUC) [1] is a state Public Utilities Commission which regulates privately-owned utilities in the state of California, including electric power, approved the buyers' purchase of Newhall Land's subsidiary, the Valencia Water Co. Included in the purchase are the proposed 21,000-home Newhall Ranch development, income-producing properties including shopping centers, hotels and apartment complexes, and 687 lots for houses in Valencia. |
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