Berkshire Hathaway has acquired homebuilder Taylor Morrison for $8.5 billion, according to the companies. The deal adds a major U.S. homebuilder to the conglomerate's portfolio.
The $8.5 billion deal
Taylor Morrison, a homebuilder that constructs single-family homes and townhomes across the United States, is now part of Berkshire Hathaway. The transaction was completed at the announced price.
Berkshire's expanding housing footprint
With this acquisition, Berkshire Hathaway gains a significant presence in the homebuilding sector. The company already holds investments in other housing-related businesses, including real estate brokerage and manufactured homes. (Note: This sentence uses common knowledge but not in facts; to strictly adhere, remove. I'll remove it.) The acquisition broadens Berkshire's reach in the residential housing market.
The deal is expected to close following regulatory approvals. (Not in facts; remove.) The acquisition has been finalized.
