Berkshire Hathaway has agreed to acquire Taylor Morrison Home Corp. for $72.50 per share in cash, representing an equity value of approximately $6.8 billion and an enterprise value of approximately $8.5 billion.
Sheryl Palmer will continue to lead the business as CEO. Taylor Morrison (NYSE: TMHC) is a national homebuilder and community developer operating more than 350 communities across 21 markets in 12 states. The company serves a broad range of buyers through its Taylor Morrison and Esplanade brands, spanning entry-level, move-up, and resort lifestyle housing segments. In addition to its for-sale housing operations, the company develops build-to-rent communities through its Yardly brand and provides mortgage, title, escrow and homeowners’ insurance services to customers, supporting a vertically integrated homeownership platform.
Advising Taylor Morrison on the transaction are Goldman Sachs and Moelis & Co. as financial advisors, Simpson Thacher & Bartlett as legal advisor, and Mayer Brown as financial services regulatory counsel.