Taylor Morrison Home Corporation (TMHC)

Taylor Morrison Home Corporation, headquartered in Scottsdale, Arizona, was one of the largest homebuilders in the United States. Its roots go back to 1936 through the British builder Taylor Woodrow, and the Taylor Morrison name came into use in 2007 when Taylor Woodrow's North American operations were combined with Morrison Homes. The company designed, built and sold single-family and attached homes across a range of price points, including first-time, move-up and active-adult communities.

The company went public on the New York Stock Exchange in 2013 under the symbol TMHC, following a period of private equity ownership. It grew through acquisitions, including AV Homes in 2018, and in 2020 it completed its merger with William Lyon Homes, which added the William Lyon Signature and other brands to the portfolio. Its homebuilding brands included Taylor Morrison and Darling Homes. Its markets spanned a number of Sun Belt and Western states, including Arizona, California, Colorado, Florida, Georgia, Nevada, North and South Carolina, Oregon, Texas and Washington. Beyond building houses, it operated mortgage, title and closing services for buyers and had a mixed-use and multi-family business under the Urban Form brand.

In its final years as a public company, the homebuilding sector faced higher mortgage rates and affordability constraints. Taylor Morrison reported a decline in first-quarter 2026 revenue of about 27 percent from a year earlier, to $1.387 billion, with closings down about 26 percent to 2,268 homes.

Berkshire Hathaway agreed to acquire the company for $72.50 per share in cash, a 24 percent premium to the prior closing price of $58.50, with an equity value of about $6.8 billion and an enterprise value of about $8.5 billion. The purchase price was about 10.8 times trailing earnings, according to market coverage. Taylor Morrison was to be combined with Berkshire's Clayton Properties Group under Taylor Morrison chief executive Sheryl Palmer, forming a homebuilder that Berkshire described as the fourth largest in the United States.

Berkshire Hathaway's interest in residential construction was already established through its ownership of Clayton Properties Group, which builds and sells manufactured and site-built homes. Combining Taylor Morrison with Clayton under a single leadership team brought two sizeable homebuilding businesses together. The combined group delivered nearly 23,000 site-built homes in 2025 across 21 states and 52 markets, with more than 700 communities.

Because the consideration was entirely cash and fixed at $72.50 per share, former shareholders had no continuing equity interest in either company. Shares that had been included in major stock indexes were removed from them when trading ended, and Berkshire Hathaway continues to trade on the NYSE as its Class A and Class B shares.

The merger closed on July 24, 2026, and Taylor Morrison became a wholly owned subsidiary of Berkshire Hathaway. Trading in the common stock on the NYSE was halted and ended, a Form 25 was filed on the closing date, and former holders received the fixed cash price. After roughly 13 years as a public company, Taylor Morrison now operates as part of Berkshire's site-built homebuilding business.