NEW YORK, July 29, 2026, 09:59 EDT — U.S. markets have begun trading.
Taylor Morrison ended the session at $72.45, closing five cents under the cash offer.
Berkshire’s purchase price was approximately 10.8 times trailing earnings, which is around 19% less than the average for four peers.
Berkshire Hathaway Inc. NYSE:BRK.B has finalized its all-cash acquisition of Taylor Morrison Home Corporation NYSE:TMHC, ending public trading of Taylor Morrison shares. Eligible shareholders receive $72.50 in cash per share. According to the filing, trading ceased after July 24.
The last price recorded was $72.45, resulting in a spread of five cents, which equates to approximately 0.07%. Afterward, previous holders were left with just the cash entitlement.
The premium over the headline figure outweighed the valuation ratio. Berkshire’s offer was 24% higher than Taylor Morrison’s closing price of $58.50 on May 29. However, dividing $72.50 by trailing earnings of $6.71 yields a multiple of roughly 10.8 times.
The $6.8 billion equity value equates to approximately 1.09 times book equity as of March, based on calculations. Taylor Morrison’s equity stood at $6.25 billion at March 31.
At 09:43 EDT, the average trailing earnings multiple for four leading public builders was roughly 13.3 times. Berkshire’s acquisition multiple was around 19% under this average.
Berkshire’s B shares fell 0.4% to $510.45. Berkshire now holds the public-market exposure, not TMHC. Taylor Morrison remains a fully owned subsidiary.
Greg Abel stated that Taylor Morrison will spearhead Berkshire’s “vision for a unified site-built homebuilding operation.” CEO Sheryl Palmer will continue to oversee the integration process with Clayton Properties Group. Taylor Morrison Investors
UBS Group NYSE:UBS analyst John Lovallo described the transaction as a “strong vote of confidence.” He noted the combined company could be one of the five biggest homebuilders in the United States. Reuters
The discounted multiple indicates a more challenging operating environment. First-quarter closing revenue declined by 28%, and closing volume was down 26%. Net orders decreased by 14%. The adjusted closing gross margin stood at 20.6%.
Taylor Morrison pointed to elevated mortgage rates, tariffs, and inflation. The company boosted incentives and financing assistance after a decline in buyer traffic.
Markets remained under pressure this week, with the Mortgage Bankers Association reporting a 6.4% drop in applications as of July 24. Freddie Mac OTCMKTS:FMCC most recently cited a 30-year fixed rate average of 6.58%.
As of the dateline, no second-quarter results had been published. The investor website continued to display Q1 as the most recent update. Previous guidance—not actual outcomes—projected closings between 2,500 and 2,600, with an anticipated average price of $575,000 and a minimum margin of 20%.
Risks: Elevated mortgage rates could necessitate larger incentives, putting pressure on margins. Integration might experience delays or greater costs than anticipated. Operating as a private company will limit transparent financial reporting.
Previous TMHC shareholders currently possess claims to cash rather than shares in a homebuilder. Berkshire has acquired a cyclical position at an earnings multiple lower than competitors.
Is TMHC currently trading, and what was its last recorded price?
No. Berkshire Hathaway finalized the purchase on July 24, 2026. TMHC is now fully owned, meaning its market price is no longer updated. The most recent closing trade was $72.45 on July 23. Delisting from the NYSE will take effect August 3, but trading has already ceased.
What is the cash payment that ex-TMHC shareholders will get?
Each qualifying share was exchanged for $72.50 in cash, without interest, and remains subject to any required withholding taxes. The price reflected a 23.9% premium over the May 29 closing value. The transaction valued equity at nearly $6.8 billion and the enterprise value at approximately $8.5 billion.
What is the current outlook for TMHC's share price?
TMHC’s twelve-month stock price target is now irrelevant. The anticipated payout stands at $72.50 per approved share in cash. Analyst price estimates, chart projections, and valuation-based gains no longer apply. Ongoing exposure to public equity will occur solely via Berkshire Hathaway.
Did the Berkshire deal receive solid approval, and is completion risk eliminated?
Shareholders overwhelmingly backed the merger on July 22, with approximately 75.83 million votes in favor and 2.33 million votes against. This amounted to about 97.0% support of shares voted, including abstentions. The deal closed two days later, removing typical completion risk.
What is the status of TMHC’s inclusion in the S&P MidCap 400?
TMHC exited the S&P MidCap 400 ahead of the July 24 market open, with Krystal Biotech taking its place. As a result, TMHC-specific holdings in funds tracking this index were eliminated. Taylor Morrison shares are no longer represented in any equity index, meaning there is no longer direct index-linked exposure to the company.
Is Taylor Morrison expected to release its second-quarter earnings today as planned?
Several financial calendars continue to display July 29 as the projected earnings date. Taylor Morrison’s investor site still lists the most recent update as first-quarter 2026. As of July 29, there was no official second-quarter earnings release. The listed dates were provisional estimates, not formal company disclosures. A private-company filing could come later, but this would not impact TMHC shares.
What were the figures in the most recent standalone quarterly results from Taylor Morrison?
Home-closing revenue for the first quarter reached $1.31 billion, representing a decline of roughly 28%. Taylor Morrison sold 2,268 homes, with the average selling price at $578,000. Net income stood at $98.6 million, equating to $1.01 per diluted share. Adjusted earnings came to $109.2 million, or $1.12 per share. The company reported a backlog of 3,465 homes valued at $2.3 billion at the end of the quarter. Liquidity was $1.6 billion, including $653 million in cash.
What outlook had management provided ahead of the acquisition?
Management projected around 11,000 home closings for full-year 2026, with average closing prices anticipated between $580,000 and $590,000. The company planned to invest about $2 billion in homebuilding land, and share repurchases were expected to reach approximately $400 million. These aims now reflect operational progress rather than serving as a catalyst for public shares.
Was Berkshire’s $72.50 price high when compared to its recent fundamentals?
The deal valued the company at about 10.8 times trailing EPS of $6.71. Book value stood at nearly $64 per share in the first quarter, making the offer around 1.13 times stated book value. However, first-quarter net income declined by about 54% compared to the previous year, lessening the reliability of standard trailing multiples.
What is the outcome for Taylor Morrison following Berkshire Hathaway's involvement?
Sheryl Palmer continues as chief executive and oversees integration with Clayton Properties Group. The merged entity closed on almost 23,000 site-built homes in 2025. Operations now cover 21 states, 52 markets, and upwards of 700 communities. Berkshire reports the combined platform is now the fourth-largest homebuilder in the United States. TMHC will also discontinue separate SEC filings following delisting.
Khadija Saeed is a financial markets reporter at TS2.tech. Her coverage ranges from stocks and technology to emerging industries and developments across global markets. She studied economics and finance at the London School of Economics and worked in market research before becoming a financial journalist. Follow Khadija Saeed on Google News.
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