2 hours ago - Business
Berkshire Hathaway makes its first big post-Buffett deal
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Berkshire Hathaway on Sunday said that it's agreed to buy Taylor Morrison Home, an Arizona-based homebuilder and financial services provider, for $6.8 billion in cash.
Why it matters: This is Berkshire's first major acquisition under CEO Greg Abel, who took over after Warren Buffett retired at the end of last year.
Zoom in: Berkshire is paying $72.50 per Taylor Morrison share, representing a 24% premium to Friday's closing price.
- Abel says he plans to "unify" Berkshire's home building operations — which already include Clayton Homes — into a "combined platform."
The bottom line: U.S. new home starts, home building and sales all are on the decline according to the most recent government data.
