Stock investment
In a Friday press release, Berkshire said it has officially taken over Taylor Morrison for $8.5 billion in cash, a deal it first announced at the end of May.
Taylor Morrison is one of the nation's biggest land developers and homebuilders; it made about $1 billion in pre-tax profits on around $8 billion of revenue last year, its latest annual report shows.
The homebuilder has now joined Berkshire's stable of housing-related subsidiaries, which includes its real estate brokerage network, Berkshire Hathaway HomeServices, and its building-products businesses, such as Clayton Homes, MiTek, and Acme Brick.
