Warren Buffett's successor, Greg Abel, just completed his first acquisition as Berkshire Hathaway's CEO. It's the latest sign that he's ready and willing to build on what Buffett built.
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.
Other News
Top Stories- 1 Novo Nordisk Shares Fall After Late Stage Heart Drug Misses Key Trial Goal
- 2 Exxon, Chevron Q2 Profits Surge as Higher Oil Prices Boost Earnings Amid Middle East Supply Disruptions
- 3 Amazon Shares Jump 12% While Apple Slides 7% as Earnings Highlight Diverging AI Investment Outlooks
- 4 U.S. Stocks Surge as Microsoft Earnings Reignite Confidence in AI Investments
Comments (0)
You must be logged in to post comments.
No comments yet. Be the first to start the conversation!