Investment giant Berkshire Hathaway Inc. has completed its merger with Scottsdale-based Taylor Morrison Home Corp.
Shareholders voted July 22 on the proposed merger agreement, with 75.83 million shareholders voting for the merger and 2.33 million voting against it, according to a regulatory filing from Taylor Morrison with the U.S. Securities and Exchange Commission. Another 8,211 abstained.
The acquisition closed on Friday. Berkshire Hathaway acquired Taylor Morrison for $72.50 per common share in cash, representing a total equity value for Taylor Morrison of approximately $6.8 billion and total enterprise value of approximately $8.5 billion, according to Taylor Morrison.
Under Berkshire, Taylor Morrison will continue to be led by CEO Sheryl Palmer, who will oversee the integration of Taylor Morrison's portfolio of brands — including Esplanade, Yardly and Taylor Morrison Home Funding — with Berkshire Hathaway's site-built homebuilding operations that comprise Clayton Properties, a collection of 15 regional and local homebuilders.
Read more of this story from the Business Journal.
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