Berkshire CEO Greg Abel Closes $6.8 Billion Taylor Morrison Deal, Expanding Real Estate Bet
Updated
Updated · Yahoo Finance · Aug 14
Berkshire CEO Greg Abel Closes $6.8 Billion Taylor Morrison Deal, Expanding Real Estate Bet
3 articles · Updated · Yahoo Finance · Aug 14
Summary
$6.8 billion bought Berkshire Hathaway control of homebuilder Taylor Morrison, one of Greg Abel’s largest moves since becoming CEO in January.
Abel is using Berkshire’s cash hoard more aggressively, pairing the acquisition with $4.5 billion of Q2 buybacks after $235 million in Q1 and a $10 billion private placement in Alphabet.
Taylor Morrison fits Berkshire’s existing housing footprint through Clayton Properties Group and Berkshire Hathaway HomeServices, giving Abel room to combine site-built homebuilding operations on a broader platform.
The purchase also signals Berkshire is looking past current pressure from high home prices and supply constraints, betting U.S. housing demand will recover over time.