Loading ...Berkshire Buys Taylor Morrison For $6.8 Billion In First Big Deal Under Greg Abel
Less than a month after we mused at Berkshire’s most recent cash hoard which as of March 31 stood just shy of $400 billion, and wondered who Warren Buffett’s replacement Greg Abel will acquire first… … we got the answer on Sunday afternoon, when Berkshire announced it will acquire homebuilder Taylor Morrison Home Corp. in an all-cash deal worth about $6.8 billion. Which means that after the deal, Berkshire still has $390 billion in T-bills collecting about 3.5%.
Taylor Morrison is one of the largest community developers and homebuilders in the US and also offers financial services like home loans, titles, escrow and insurance to consumers, according to the statement. The firm has more than 350 communities across 12 states. The existing Taylor Morrison management team, including Chief Executive Officer Sheryl Palmer, will continue to lead the firm, according to the statement.